The business empire built by Hong Kong billionaire Li Ka-shing offloaded its global ports business outside China this month to a group led by giant asset manager BlackRock for $19 billion in cash.

The deal came after weeks of pressure from US President Donald Trump, who refused to rule out military intervention to "take back" the crucial waterway from alleged Chinese control.

CK Hutchison earlier said the parties expect to sign "definitive documentation" by April 2.

Bloomberg News reported Wednesday that they were working on finalising due diligence, tax, accounting and other deal terms, citing unnamed sources familiar with the matter.

Meanwhile two Chinese government offices overseeing Hong Kong affairs -- one based in Beijing and the other in the former British colony -- reposted an article that compared the deal to "wrecking one's own foundations".

"People across society say that (selling the ports) under duress from the US is a short-sighted act that will only fuel the flames of hegemony," the piece read.

The article -- which originally appeared in the Beijing-backed newspaper Ta Kung Pao -- purports to quote from Hong Kong lawmakers, pro-China politicians and an economist.

The deal cannot be viewed as purely commercial because the operations in the vital Central American canal are instrumental to the Belt and Road Initiative, Beijing's infrastructure programme, the article said.

"When it comes to key interests of the country and its people, the notion of 'doing business without borders' is absurd, naive and confused."

Both government offices -- the Hong Kong and Macao Work Office and the Liaison Office -- have previously posted articles slamming the ports deal.

Hong Kong leader John Lee said last week that concerns over the sale "deserve serious attention", adding that the matter will be handled in accordance with law and regulation.

CK Hutchison has not publicly responded to criticism of the deal.

The Panama Ports Company, a subsidiary of CK Hutchison, has operated two of the five ports at the Panama Canal since 1997 via a government concession.

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