China likely to bid on building new Panama Canal ports

China is among parties interested in bidding to build two new ports on the Panama Canal, its administrator said Tuesday, despite US talk of retaking control of the vital trade route.

US President Donald Trump made the threat earlier this year, alleging that China controls the strategic waterway because Hong Kong-based CK Hutchison Holdings operates existing ports at either end -- Cristobal on the Atlantic, and Balboa on the Pacific.

The firm agreed in March to transfer control of both ports to a conglomerate led by US-based BlackRock, but the deal -- viewed with suspicion by China -- has not been finalized.

The Central American country is hoping to attract $8.5 billion in investment over the next decade to expand port capacity, and to build a gas pipeline and a new reservoir, among othe