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China-CEEC cooperation opening doors

2026-08-08 21:00   China Daily

This aerial photo taken on July 10, 2023 shows OOCL PIRAEUS, one of the largest container vessels in the world, about to dock at Piraeus Port in Piraeus, Greece. [Photo/Xinhua]

  In 2008, as the global financial crisis unfolded, Greece suffered some of the worst fallout. Piraeus Port, the largest seaport in the country, reported a loss of 13 million euros ($15 million), with outdated facilities, scarce vessel calls and frequent dockworker strikes dragging its operations into a deep crisis.

  During this challenging period, when investors worldwide deemed Greece too risky, a Chinese company stepped forward. China COSCO Shipping secured a concession to operate two of Piraeus' container terminals. Eight years later, in 2016, COSCO acquired a majority stake in the port, officially taking over its management and operations.

  By bringing in expertise, investment and machinery, the Chinese company successfully breathed new life into the port. Far from replacing local staff, it created thousands of jobs for Greeks. Today, after years of restructuring, Piraeus stands as one of the busiest ports in the Mediterranean.

  Charalampos Aravantinos-Simonetos, a youth coordinator for international and European affairs in Greece's Syriza party, shared the story of solidarity and cooperation with a roomful of young political leaders from China and Central and Eastern European countries, or CEECs, in June during a forum held in Wuhan, Hubei province.

  The Chinese approach, he said, stands in stark contrast to those countries that invest solely for their own benefit and show little concern for local communities. The project has helped strengthen bilateral ties and allowed both sides to benefit through economic cooperation, he added.

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