Honor COSCO Piraeus contract, China tells new Greek leaders

China urged Greece on Friday to honor an investment contract made with Chinese shipping giant China Ocean Shipping (Group) for a 35-year concession on two piers at Greece's biggest port, Piraeus.

The new Greek government, elected on Sunday, announced a shock decision this week to halt privatization of the Mediterranean logistics hub.

Chinese Foreign Ministry spokeswoman Hua Chun-ying said Beijing welcomed a statement by the Greek administration to respect contracts with COSCO and to explore the possibility of future cooperation.