On September 21, 2021, Hamburger Hafen und Logistik AG, HHLA for short, and the Chinese shipping company Cosco thought they were almost at their destination.

On that day, the two companies announced that Cosco would take a 35 percent stake in one of the container terminals in Hamburg.

Julia Loehr

Business correspondent in Berlin.

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Jochen Stahnke

Political correspondent in Berlin.

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Susanne Preuss

Business correspondent in Hamburg.

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The flow of goods between China and Germany would flow even better, it said.

Rather dutifully, the statement was followed by the sentence: "The completion of the transaction is subject to various approvals under competition law and foreign trade law."

A good year later, the participation is still not a done deal, rather the so-called investment review has developed into a political issue.

The relevant ministries – in addition to the leading economics ministry, the foreign, interior, finance, defense and transport ministries were also involved – are against the entry of the Chinese and do not want to allow it under certain conditions.

The Chancellery, on the other hand, is pushing for participation to be made possible.

A corresponding report by NDR and WDR was not officially commented on in Berlin on Thursday.

However, people familiar with the events confirmed the dissent within the government.

Greens and FDP agree

Unlike in the nuclear dispute, the Greens and the FDP are on the same page in this case.

Both represent a China-critical attitude, which should also be expressed in the government's China strategy expected for next year.

After the experiences with Russia, Germany's economy should become less dependent on individual countries.

In the SPD, on the other hand, there is concern that thousands of jobs would be at risk if economic relations with China deteriorated.

At the beginning of November, Olaf Scholz (SPD) wants to fly to China with a business delegation.

The interest of managers in accompanying the chancellor is "gigantic" and the available places are often overbooked, says an insider.

HHLA boss Angela Titzrath would also like to take part in the trip.

Scholz was the first mayor of the Hanseatic city between 2011 and 2018.

The current incumbent Peter Tschentscher (SPD) is clear for the entry of the Chinese.

He warns that otherwise Hamburg would be weakened compared to other European port cities.

Tschentscher emphasizes that it is not about a stake in the port itself, but in a terminal company.

“The land in the Port of Hamburg will remain entirely in public hands.

The operation of the port as a whole is also 100 percent the responsibility of the Hamburg Port Authority.

It stays that way.”

According to the Hanseatic city, the political discussions have already caused considerable irritation on the Chinese side.

In Germany of all places, where people are getting upset about the Chinese rulers' political influence on the economy, politicians are now interfering in contracts between companies.

The first Cosco ship reached the port of Hamburg 40 years ago, in August 1982. Today, China is Hamburg's biggest customer.

Cosco also has a comparable position in the business with the Rhine port in Duisburg.

The Chinese already hold stakes in terminals in the ports of Rotterdam and Antwerp, which compete with Hamburg, as well as in Valencia and the majority in Piraeus.

However, it is by no means only the Chinese who are currently buying into the infrastructure.

The German liner shipping company Hapag-Lloyd has also invested in terminal holdings in recent months.