The German government approved on Wednesday the investment of the Chinese company Cosco in a 24.9% stake in one of the three terminals of the logistics firm HHLA in Germany's largest port in Hamburg.
This is reported by Reuters.
This is less than the planned 35% stake claimed by the Chinese shipping giant and comes a week before Chancellor Olaf Scholz's trip to China.
The compromise was reached after considerable political opposition to the deal. Economy Minister Robert Habeck was among politicians who said Germany should avoid Chinese investment in critical infrastructure if possible.
Supporters of the deal say it will allow Hamburg, where Scholz has been mayor for seven years, to keep pace with rival ports that also vie for Chinese trade and some of which are partly owned by Cosco.
Beijing previously said it hoped Germany would view the deal in an "objective and rational light" without politicizing economic relations.