Core Viewpoint - The National Security Law, implemented ten years ago, has significantly strengthened China's national security framework and capabilities, contributing to the overall national security strategy under the leadership of the Communist Party of China [1][2]. Legislative Achievements - Over the past decade, the National Security Law has led to the establishment of over 30 national security laws, including 20 new laws covering various sectors such as politics, economy, territory, military, cyber, and society [2]. - The State Council has modified more than 60 administrative regulations related to national security, while local governments have enacted nearly 500 local regulations and implementation measures [2]. Enforcement and Judicial Improvements - National security enforcement and judicial departments have effectively implemented the National Security Law, enhancing legal awareness and preventing hostile infiltration, protecting major economic interests, and combating terrorism and extremism [3]. Economic and Security Interconnection - China's macroeconomic stability has been maintained, with the economy doubling in size over the past decade and contributing over 30% to global economic growth [4]. - Food production has remained stable at over 1.3 trillion jin for ten consecutive years, with a record of over 1.4 trillion jin last year, ensuring food security [4]. - Oil production has consistently been around 200 million tons, and significant advancements in energy production have been achieved [4]. National Security Education - National security education has been significantly enhanced, with annual campaigns and various educational initiatives targeting key demographics such as leaders and youth [4]. Future Directions - The upcoming "14th Five-Year Plan" period is crucial for enhancing national security capabilities, emphasizing the need for absolute leadership from the Party and a comprehensive approach to national security [5][6].

Core Viewpoint - The sale of global port assets by Cheung Kong Holdings to BlackRock has triggered significant market reactions and raised concerns about potential geopolitical implications, particularly regarding China's strategic interests in global trade routes [1][2]. Group 1: Market Reaction - Following the announcement of the asset sale, the combined market value of Cheung Kong and three other companies plummeted by over 78.1 billion HKD, with Cheung Kong's stock dropping 16.49% over 11 trading days [1]. - Investors are worried not only about the asset sale itself but also about the signal it sends regarding a potential shift away from the Chinese market [1]. Group 2: Geopolitical Implications - The ports in question handle 6% of global maritime trade, with 21.4% of Chinese shipping passing through the Panama Canal, highlighting their strategic importance [1]. - The Hong Kong and Macau Affairs Office criticized Li Ka-shing's actions, suggesting that the transaction could play a crucial role in the U.S. strategy to contain China [2]. - The Chinese government has indicated potential responses, including the possibility of sanctions against BlackRock if the transaction is perceived as being under U.S. pressure [2][3]. Group 3: Strategic Responses - State-owned enterprises like COSCO Shipping have expressed their commitment to monitoring global strategic ports and are accelerating investments in key locations such as Greece's Piraeus Port and Peru's Chancay Port [2]. - The Chinese Ministry of Commerce is revising the Foreign Investment Law to impose stricter scrutiny on the transfer of overseas assets in critical infrastructure sectors, specifically targeting ports and energy [2]. Group 4: Future Scenarios - If the transaction proceeds, Cheung Kong may face scrutiny and sanctions from the Chinese government, potentially impacting its domestic operations across various sectors [5]. - Alternatively, if the transaction is terminated, Li Ka-shing could mitigate losses and potentially restore trust with the Chinese government, positioning himself as a patriotic businessman [6]. - The outcome of this situation is not just a business decision but also a matter of historical significance for Li Ka-shing, as it could define his legacy in the context of national interests versus capital pursuits [6].