China, Greece sign strategic cooperation agreement on shipping finance

Beijing, The Gulf Observer: The Lujiazui Financial City Council in Shanghai, China, and the Association of Banking and Financial Executives of Hellenic Shipping signed a strategic cooperation agreement on shipping finance during an online event.

Under the agreement, the two parties will establish a collaborative network to stimulate communication among shipping companies and financial institutions from both international shipping centers, speakers from both sides said.

The signing of the agreement symbolizes the lasting collaboration and strong bond between the two maritime centers, said Kostas Katsafados, Greece’s deputy minister of Maritime Affairs and Insular Policy.

Huang Hongyuan, representative of the chairman unit of the Lujiazui Financial City Council and vice president of the Bank of Communications, signed the agreement in China and George Xiradakis, president of the Association of Banking and Financial Executives of Hellenic Shipping, in Greece.

Huang said he was confident that through the agreement the two sides will be able to leverage complementary advantages and those provided by the Belt and Road Initiative to promote the two countries’ collaboration in finance, trade and other areas.

He also mentioned the untapped potential in financial cooperation, saying that a China-Greece financial “Silk Road” will underpin the development of the shipping industry on both sides, as Shanghai offers a variety of financial products and services as an international financial hub.

Xiradakis said he hoped that “a new era in international shipping financial system has begun.”