Germany authorizes the Chinese group Cosco to take 24.9% of the port of Hamburg











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by Andreas Rinke and Jan Schwartz

BERLIN (Reuters) – The German government has approved a 24.9% stake by Chinese company Cosco in one of the three terminals of the logistics company HHLA, one of the main operators of the port of Hamburg. , thus fueling the debate on strategic foreign investment.

The approved investment is lower than the 35% stake originally planned by the Chinese shipping giant and HHLA, and gives Cosco no say in management or strategic decisions.

The compromise was negotiated despite significant political resistance, particularly from the Ministries of Economy and Foreign Affairs. It comes a week before Chancellor Olaf Scholz is due to visit China.

Cosco did not immediately respond to a request for comment. A German government source told Reuters the Chinese company had agreed to the deal.

Chinese Foreign Ministry spokesman Wang Wenbin, responding to a question about Cosco’s new deal and the involvement of several German ministries, said on Wednesday that China hopes “relevant parties will see the pragmatic cooperation between China and Germany rationally (and) would stop gratuitous speculation,” without giving further details.

Germany’s foreign ministry drafted a memo on the cabinet meeting that documents its rejection of the Cosco investment, which was joined by the economy ministry and the four Liberal Democrat-led ministries, said to Reuters two government sources, which announces new tensions within the tripartite government coalition.

The investment “disproportionately extends China’s strategic influence over German and European transport infrastructure, as well as Germany’s dependence on China,” the note, seen by Reuters, said.

She points out “the considerable risks that arise when parts of Europe’s transport infrastructure are influenced and controlled by China – while China itself does not allow Germany to take shares in Chinese ports”. .

(Report Andreas Rinke, Jan Schwartz and Eduardo Baptista; written by Rachel More and Kirsti Knolle; French version Augustin Turpin)










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