Sure it is. We'll be defending "their" canal for free.
It is not Chinese controlled and never has been. Owned and operated by the Panama. Pilots are Panamanian. Top management including the guy running the operations are Panamanians — many educated in the US at places like Annapolis and Mass Maritime Academy.
The only Chinese connection of note is the company from Hong Kong (which may have some stock owned by the Chinese government) with a management contract for some port facilities on either side. They are not the only port operators here though.
So relax. Those of us who live here are not worried about the Chinese. The closer threat is Hugo and his BS. He has agents on the ground here. The Iran connection is something we worry about.