Since the pandemic, Chinese companies have been on the rise again with foreign investment. The Chinese company Cosco now wants to be involved in the public sector not only in Africa or Asia, where they buy entire ports and transport networks, but also in Hamburg.
In all likelihood, the German government will give the green light for a stake in the company HHLA-Terminal Tollerort, in which the Hanseatic city has a majority stake. With the arrival of the Chinese, she expects the largest German seaport to be strengthened compared to its competitors Rotterdam and Antwerp.
China experts warn:
Alarm bells are ringing among critics. Jacob Gunter, an analyst at the China Institute Merics in Berlin, says: “Cosco and its investment in the Port of Hamburg pose several risks to Germany’s security and economic interests.”
Gunter describes Cosco not only as a multinational looking for returns, but also as a tool of the Chinese government to achieve its strategic goals. Gunter: “First, there is the risk of influence – the more dependent Germany becomes on investments and transactions with Cosco, the more influence Cosco and party officials can exert over Germany’s China policy.”
According to Gunter, Cosco is primarily an instrument of Beijing. He warns that if Cosco gains too much influence, other shipping companies without government support will go bankrupt. Cosco became the majority owner of the port in Piraeus, Greece six years ago.
German Economic Affairs Minister Robert Habeck (53, Greens) had also warned against new dependencies. However, the German government now seems to be giving its consent. However, with one limitation: the Chinese state shipping company may not take over 35 percent as planned, but only 24.9 percent, so that the group as a minority shareholder cannot formally influence the management.
More investment in Switzerland
According to international consultancy Ernst & Young (EY), Chinese investment is picking up again after the pandemic-related slump in Europe and Switzerland. Last year, 155 corporate takeovers were counted in Europe, while in Switzerland there were nine acquisitions or investments. Investments in Europe were $12.4 billion, in Switzerland 96 million.
In recent years, the Chinese in Switzerland have acquired, among others, the agricultural concern Syngenta, the shoe company Bally, the drinking bottle manufacturer Sigg, the luxury hotel Palace in Lucerne, several service companies at the Zurich airport, the truck and textile machine manufacturer Saurer, the knitting machine manufacturer Steiger, the machine factory Netstal and the Bought football club GC.
“Pay attention”
The interest of the Chinese is now shifting more and more from traditional industrial companies to the healthcare and gaming sectors and to start-ups. Hubert Stadler, head of EY’s China Desk in Switzerland, recently wrote in a statement: “For Switzerland in particular, the healthcare sector – be it pharmaceuticals, biotech or medical technology – is increasingly becoming one of the main target sectors for Chinese companies, as in this area in China still has a lot to catch up on, especially in terms of research and development.”
Blackmail or espionage: What happens in China with the data collected abroad is unknown. In a recent interview with Blick, Teija Tiilikainen (58), director of the European Center for Combating Hybrid Threats (Hybrid CoE) in Helsinki, warned not to hand over important data out of your own hands. She said: “You have to watch closely when the Chinese buy critical infrastructure, for example in telecommunications, in the energy sector or in the financial sector.”