CCP state-owned COSCO Group acquires 24.9% equity in Hamburg, Germany

A German cabinet meeting on the morning of October 26 approved COSCO’s purchase of a 24.9 percent shareholdings in German terminal operator HHLA’s “Tollerort” container terminal in the Port of Hamburg.

However, a spokesman for the Chinese Embassy in Germany stated on October 21 upon request that he hoped the German side would adhere to the principle of fair competition in an open market and provide a fair, open, and non-discriminatory market environment for Chinese companies. The news indicated that there was controversy within the German federal government over COSCO’s acquisition plan (originally planned to acquire a 35% stake). The German cabinet meeting eventually approved the CCP’s purchase of the German port of Hamburg at the Chinese side’s urging.

Is this an early meeting gift from Germany to the CCP? As was previously reported, German Chancellor Schulz will visit the CCP soon and will at that time approve the CCP’s state-owned firm buying the German port. In order to lessen the suffering of the innocent members of the CCP, Miles Guo added in his Gand Live broadcast on September 28 that it would take at least another 3–5 years for Germany, France, and the CCP to separate.

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Translator: NFSC News
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