China-owned shipping giant gets toehold in German port with controversial deal

Major state-owned Chinese shipping company Cosco will be allowed to hold a stake of up to 24.9 per cent in one of the terminals at Hamburg port, the German government announced on October 26, 2022. The decision to cap the shareholding was described as being a way to keep Cosco from being involved in strategic decision-making, and followed months of protests by people opposed to allowing China a stake in critical infrastructure in Germany.