Conclusions and policy recommendations 8

Recommendations for policymakers 11

1. Introduction 14

2. Chinese Investors in EU Ports: Hutchison Ports, COSCO Ports and CMPort 16

2.1 Introduction 16

2.2 Hutchison Ports (HPH) 17

2.3 COSCO Ports 21

2.4 CMPort 24

2.5 TiL Group 28

2.6 Relevance of Individual Firm Attributes for Port Competitiveness and National

Security 29

2.7 Conclusions 33

3. Chinese investments and competitiveness of European Seaports 34

3.1 Introduction 34

3.2 EU Seaports and China 35

3.3 Case Study Analysis 41

3.4 Layers of Chinese Investment in European Port Logistics 57

3.5 Conclusions 60

4. The impact of Chinese FDI in European seaports on national security interests 63

4.1 Defining national security interests 63

4.2 National security risks 66

4.3 National security benefits 72

4.4 The risks outweigh the benefits, but can be managed 73

4.5 Conclusion 74

Appendices 75