(China Daily 06/16/2012 page10)
China Investment Corporation is committed to discussing possible investment plans in Greece once a government is formed in the European nation after Sunday's election, said Greek business leaders.
The intention was expressed by China's sovereign wealth fund during a recent visit to Beijing by a delegation from the Hellenic-Chinese Chamber, which aims to promote the development of business and economic ties between Greece and China.
"I wish I could have a magic wand that would remove corruption and bureaucracy to attract overseas investors, especially those from China, once the new government is formed after Sunday's election," said Constantine Yannidis, president of the Athens-based chamber.
The chamber sent a five-member delegation to China last month to attract investment in Greece.
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Big Chinese businesses are seeking even further involvement in Greece despite the fact that unstable economic and political conditions have forced many foreign companies to reconsider their presence in the crisis-hit country.
Greece has long been home to thousands of Chinese businesses, from small retail stores to shipping giant China Ocean Shipping Company (COSCO), which has invested billions in Greece's largest port.
Several large international companies have already left Greece because of the crisis, but that doesn't appear to be the case for major Chinese companies.
"For investments that have to do with ports, logistics, energy and anything affiliated with big and stable Chinese businesses, there's no evidence that these businesses want to withdraw," said Constantine Yannidis, president of Hellenic-Chinese Chamber, a non-governmental, non-profit membership association for Greek corporations and individual entrepreneurs engaged in business with China.
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(Source; Fu Jing Asia News Network (MCT) — Asian markets rebounded on Monday as Greece’s pro-bailout party New Democracy winning enough votes to form a government has bought time to prevent a further worsening of the crisis.
The Interior Ministry of Greece announced that the right-wing New Democracy party won 29.7 percent of the votes, the left-wing Syriza was second with 26.9 percent and the center-left Pasok party was third with 12.3 percent in Sunday’s elections.
Asian markets welcomed the news, while markets in Europe sent mixed responses in early trading. In Asia, Japan’s Nikkei Stock Average rose 1.77 percent to 8721.02. The Shanghai Composite Index rose 0.4 percent to 2316.05. Hong Kong’s Hang Seng Index climbed 0.95 percent to 19415.93.
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