Sunday, July 24, 2011

China sees Greek crisis as investment opportunity

July 24, 2011

Greece's debt crisis offers a good opportunity for Chinese companies to invest in the country as its privatises assets, the Chinese ambassador was quoted as saying on Sunday.

An emergency summit of euro zone leaders on Thursday agreed a second bailout for debt-laden Greece, which includes a requirement for the country to sell 50 billion euros (44 billion pounds) of companies and other assets by 2015.

Luo Linquan told China's official Xinhua news agency on Sunday that the effect of the debt crisis on trade between China and Greece will be limited and Chinese companies should look for ways to benefit.

".. Greece needs structural reforms and privatisation reforms. Some transport, new energy, power, water and other basic facilities will gradually be opened to tender by foreign companies," he added.

"These are projects that Chinese companies are quite good at," he said.


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