BUSINESS

Chinese funds on the lookout for investment opportunities

ILIAS BELLOS

TAGS: Business

Three major Chinese funds are planning to send missions to Athens in the coming days and months for talks concerning investment projects focused mainly on infrastructure, logistics and commercial real estate.

Preliminary discussions have already taken place between the Greek and Chinese governments, as well as business representatives, and the objective now is that memorandums of cooperation can be signed for some of the projects by September, when China will be the honored country at the Thessaloniki International Fair. It is hoped that the agreements can be formally signed that month, so that their implementation can gradually begin.

Next week a mission of senior Dalian Wanda Group Co officials is expected in Athens. The private Chinese group has assets of $85 billion and is active in a broad range of activities, from property to shopping malls and from tourism to cinema.

That will be followed next month by representatives from the Silk Road Fund. This is an investment fund with capital totaling some $40 billion that Beijing set up two years ago aimed at financing infrastructure projects in places which the New Silk Road goes through.

On Friday Cosco Shipping and Chinese real estate developer Greenland Holdings Corp announced the creation of a global port fund. Its main shareholder is the City of Shanghai and the aim is to invest in logistics and housing and tourism projects in the US and Greece. Executives from this new fund are also anticipated in Athens soon.

China’s ambassador in Athens, Zou Xiaoli, has told Kathimerini that “cooperation has advanced at a rapid rate through coordinated action by the two governments and the business communities.” He added that “many enterprises will come over seeking partnerships” on the occasion of the Thessaloniki International Fair in September.

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