Germany Reconsiders Cosco Investment in Hamburg Terminal

The German government initially agreed on a compromise that would have allowed Cosco to buy the 24.9% stake in one of Hamburg’s port terminals

(Bloomberg) — Germany is revisiting a contentious decision to allow Chinese state-owned conglomerate Cosco Shipping Holdings Co. to buy a 24.9% stake in one of Hamburg’s port terminals. A government agency reclassified the port terminal as critical infrastructure.

Chancellor Olaf Scholz and Foreign Minister Annalena Baerbock are working on a new China strategy. Berlin is expected to adopt a more critical stance on China following Beijing’s increasingly militaristic threats against Taiwan.