- Lingang Special Area has become an engine of Shanghai’s economy, and it’s an important move to demonstrate China’s attitude towards economic globalization.
- As the economic powerhouse of China, Shanghai has always been an ideal destination for foreign investment.
- COSCO Shipping acquired a majority stake in PPA in 2016 after an international tender.
Chinese and Greek officials and business representatives explored ways of boosting bilateral cooperation on shipping and trade during an investment event held at Piraeus port on Tuesday.
Boosting shipping cooperation
The event was organized by Shanghai’s Pilot Free Trade Zone Lingang Special Area at the premises of Piraeus Port Authority S.A. (PPA), a member of China’s COSCO Shipping group.
As the economic powerhouse of China, Shanghai has always been an ideal destination for foreign investment, said Chen Jinshan, a member of the Standing Committee of CPC Shanghai Municipal Committee.
“I hope that representatives of public and private sectors can deepen their dialogue and further cooperate with each other for the sake of the people and the interests of nations,” he said.
Economic globalization
Zhao Yihuai, deputy director of Lingang Special Area Administration, said Lingang Special Area has become an engine of Shanghai’s economy, and its establishment is an important move to demonstrate China’s clear-cut attitude towards opening-up and economic globalization, he said.
“We wish to work together with the Greek side to make bilateral shipping and port cooperation bigger and stronger,” Chinese Ambassador to Greece Xiao Junzheng said.
Strengthening maritime position
Manolis Koutoulakis, Secretary General of the Greek Ministry of Maritime Affairs and Insular Policy, said Greece and China have already had an important experience here in Piraeus and both sides have mutual interests in widening those relations.
Meanwhile, Mayor of Pireaus Yiannis Moralis said: “COSCO’s investments in recent years in the development and modernization of the port of Piraeus have undoubtedly further strengthened its position on the world map of maritime, tourism and commerce… Let us continue the good cooperation we have in the coming.”
COSCO Shipping acquired a majority stake in PPA in 2016 after an international tender. The group’s subsidiary, Piraeus Container Terminal S.A. (PCT), has managed the port’s container terminal since 2010.
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Source: Xinde Marine News
