Privatization halt worries China

“We were informed by press reports that the new Greek government on January 28 announced it halted the privatization of the Piraeus port. We are highly concerned about this,” Chinese commerce ministry spokesman Shen Danyang said during a press conference.

“We plan to ask the Greek government to protect the rights and the legal interests of Chinese companies in Greece, including Cosco,” the spokesman said.

The first reaction came from China’s Foreign ministry. “Since the Cosco Group won the concession to expand the second and the third container terminals at the Piraeus Port in 2008, Cosco's project at the port has become a good example of mutually beneficial and win-win cooperation, thanks to the concerted efforts of the two sides. The Chinese side believes that the Chinese government and the Greek government are willing to go hand in hand to advance practical cooperation in an all-round way and deliver benefits to the two countries and two peoples,” the Chinese foreign ministry spokesperson Hua Chunying said.