China's port project in Greece not affected by privatization reversal

(Xinhua) Updated: 2015-01-29 08:17

"China believes that both governments are willing to continue working together to advance pragmatic cooperation in various sectors to the benefit of the countries and their people," said Foreign Ministry spokeswoman Hua Chunying at a news conference on Wednesday.

With a capacity of handling more than 3.16 million TEUs per year, Piraeus port is a strategic partner for various multinational manufacturing giants like Hewlett-Packard Co and Huawei Technologies Co.

Industry body to offer advice on protecting overseas interests

A sharp increase in the number of business disputes arising on foreign soil, particularly in the infrastructure sector, has prompted the China International Contractors Association to reveal plans to improve its risk-prevention systems aimed at protecting the interests of companies operating abroad.

Zhang Xiang, its spokeswoman, said it remains uncertain how Chinese companies might be treated in such cases, either by their business partners or the host countries, especially in destinations that are undergoing complicated political, economic or social change.

Zhang said the association now plans to provide more legal, finance, language and consultancy training to enhance its members' earning abilities in overseas markets but also to safeguard them against potential risks caused by unforeseen issues.

"Under such circumstances, we must improve the analysis and prediction of political and economic situations in major host countries," said Zhang.

The association's figures show Chinese contractors gained more than $142 billion in revenue throughout the year, a 3.8 percent rise on 2013. They also signed $192 billion worth of contracts with various governments and clients.

Zhang's comments come after Mexican authorities shut down a huge trade center development project earlier this week that had been planned as a showcase for Chinese products.

The project, close to the resort city of Cancun, was closed after its operator failed to comply with environmental corrective measures after being previously fined over $1 million.

The Mexican officials said the project, to be built on around 505 acres (204 hectares) of land on the Yucatan Peninsula, posed a threat to a nearby bird conservation area and a marine reserve.