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Germany's largest port to Sell Stake to China's COSCO, what does it mean?

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Mon, 28 Nov 2022 00:00:00 GMT
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Hamburg Port

COSCO Group

big customer

Sino-German economic and trade cooperation

German Chancellor Scholz

China-EU cooperation

shareholders

Sino-German relations

EU

international relation

German Chancellor Scholz finally got tough! He approved the acquisition of a 24.9 percent stake in Germany's Port of Hamburg by China Ocean Shipping(Group) Company (COSCO). It was not easy to approve the deal. Although Scholz is the Chancellor of Germany, in the cabinet he formed, all six subordinate ministries opposed the merger. Among them, the German Ministry of Economic Affairs and the German Ministry of Intelligence are the most staunch opponents.

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