Germany reviews Chinese stake in Hamburg port amid concerns over human rights, Russia, Taiwan
- The German government gave the go-ahead in October for state-owned Chinese shipping giant Cosco to buy up to a 24.9-per cent stake in the container terminal
- Berlin is re-evaluating its economic relationship with Beijing amid concerns over human rights, ties with Russia and the escalation of tensions over Taiwan
Germany is reassessing whether to allow a Chinese firm to buy a stake in a Hamburg port, the economy ministry said on Wednesday, after the terminal was classed as critical infrastructure.
“Since the conditions have changed, we are examining what impact this will have on the situation,” a spokeswoman for the economy ministry said at a press conference, while refusing to speculate on the outcome of the review.
The German government controversially gave the go-ahead in October for state-owned Chinese shipping giant Cosco to buy up to a 24.9-per cent stake in the Tollerort container terminal in Hamburg.
The green light came despite security concerns over the sale of the infrastructure to Chinese investors, with Chancellor Olaf Scholz resisting calls to ban the sale outright. Cosco initially sought to purchase a larger 35 per cent stake in the port before a compromise agreement was announced.
Germany has been re-evaluating its economic relationship with China amid concerns over human rights and the communist country’s ties with Russia, as well as the escalation of tensions over Taiwan.
