China's top market regulator said on Friday it will carry out an antitrust review of CK Hutchison's possible Panama Canal ports' deal in accordance with laws to ensure fair market competition and protect public interests, according to the website of the State Administration for Market Regulation.

In a response to media agency Hong Kong Ta Kung Wen Wei, a spokesman of the second antitrust enforcement division of the SAMR said that the regulator has noted the deal and will conduct an antitrust review.

The move came as Hutchison Ports, a subsidiary of Hong Kong-based conglomerate CK Hutchison Holdings owned by tycoon Li Ka-shing, is reportedly in the process of selling most of its global ports business to BlackRock on April 2 for an expected $22.8 billion.