Germany to consider China stake in Hamburg port terminal; on Wednesday, a German finance ministry official said the country is reconsidering its decision to allow China’s Cosco (601919. SS) to invest in one of HHLA’s three Hamburg port terminals.
After the Tollerort facility was designated vital infrastructure this year, political tensions over Chinese investment in Germany resurfaced.
The government official said Cosco would be permitted to invest in the terminal under certain circumstances.
China’s foreign ministry advised Germany to be “objective and rational” in its examination.
“The German side is very clear about the ins and outs of the Hamburg port issue, we hope the German side will refrain from politicising commercial cooperation, making it something about ideology or security, and setting barriers to such cooperation,” Chinese foreign ministry spokesperson Wang Wenbin said on Thursday.
In October 2018, German Chancellor Olaf Scholz approved Cosco’s 24.9% ownership despite considerable opposition from the three-way coalition.
Scholz’s spokeswoman maintained his position.
HHLA acknowledged to Reuters that its Hamburg container terminals were designated as vital infrastructure at the start of the year.
An HHLA official stated a new category for loading facilities in the sea and inland ports with a cargo capacity of 3.27 million tonnes per year was created.
The spokeswoman claimed the Federal Office for Information Security (BSI)’s evaluation meant “no significant change” for the HHLA group, which was previously classified as essential infrastructure.
Reuters received no response from the BSI. German Foreign Minister Annalena Baerbock will visit China April 13-15.
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