Posted by Visiting Chinese vice-premier Zhang Dejiang said in Athens on Tuesday that Chinese companies would increase investment in Greece in spite of the country’s debt having been downgraded to junk status on Monday.
China's Vice-Premier Zhang Dejiang waves during a visit at Piraeus container port near Athens June 16, 2010. Greek and Chinese companies on Tuesday signed shipbuilding and construction deals worth hundreds of million of euros and may expand their cooperation further to help Greece overcome its debt crisis, officials said.
Zhang said that China was confident Greece would be able to overcome the temporary difficulties that it faced.
The downgrade pushed Greece back to the status of an emerging market after a decade of eurozone membership. In order to stimulate economic growth, Athens has now been actively seeking to attract investment from countries with massive sovereign wealth funds, such as China.
“Our government will encourage strong Chinese companies to come to Greece and find investment partners,” the Financial Times quotes Zhang as saying.
Zhang oversaw the signing of altogether 14 agreements worth hundreds of millions of euros between Greek and Chinese shipbuilding, telecommunications and construction companies, among others.
Among the deals was a 150-million euro (180 million USD) agreement between China’s BCEGI group and a Greek company to transform a tower block in Piraeus into a luxury hotel and shopping mall.
The deal marks the first big investment by a Chinese company in Greek tourism and retailing, the Financial Times says.
In a meeting between Zhang and his Greek counterpart Theodoros Pangalos, the two sides pledged enhanced bilateral cooperation in various areas including economy, education, culture and international affairs.
Pangalos hailed China-Greece relations as “excellent,” and called for deeper cooperation in maritime affairs, trade and economy.
Zhang, who arrived in Athens Monday on a four-day visit, is also scheduled to meet with Prime Minister George Papandreou, after which he will fly to the island of Crete.
Source: China News Service
Popular News:
- Naomi Campbell testifies against Liberian ex-dictator
- NATO takes aim at energy
- America and Europe close the door on immigrants
- Flames put Putin in a tight spot
- Catholic media criticizes “Eat Pray Love” movie & appears to belittle Hinduism
