In general, Chinese govt. does not allow private sectors controlling strategic assets overseas. It encouraged private sectors to invest overseas (and is still encouraging) but with conditions. HL must have gone too far at some stage and let to ndrc's panic. So it needed to be stopped. When politic approach was used (arresting HL CEO) it is usually a reflection of desperation. This reconstruction of what happened may not be precise, but quite plausible.
Indeed SOEs are different.
SDL Price at posting:
9.2¢ Sentiment: None Disclosure: Not Held
