China Offers Strong Support to Indebted Greece

  • As per reports, Chinese President Xi Jinping offered strong support to Prime Minister of deeply indebted Greece Alexis Tsipras on Saturday. Xi reportedly said that the two countries should develop cooperation in infrastructure, energy and telecommunications.

    Xi also told Tsipras that Greece plays a vital role in China's new Silk Road strategy.

    Tsipras is attending a summit in Beijing to promote Xi's vision of intensifying links between Asia, Africa and Europe.

    Reports also say that a deal has been signed by Greek infrastructure development group Copelouzos and China's Shenhua Group [SHGRP.UL] in order to collaborate in green energy projects and the upgrading power plants in Greece as well as other countries.

    Without providing further details, Copelouzos said the deal will cost total investment of 3 billion euros ($3.28 billion).