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Li Keqiang visits Greece to find the entry point of European PV industry
On June 25, Premier Li Keqiang concluded Greece’s three-day official visit, which had started on the 21st. During his visit, Li emphasized that Greece has become "the door of China to Europe," highlighting its strategic importance in facilitating Chinese exports to the European market. A key topic of discussion was whether Greece could serve as a "cut-in point" for China's photovoltaic (PV) industry to enter the European market.
Li Keqiang reiterated that China views Greece as a crucial strategic gateway for its products to access Europe. The Chinese delegation, led by the premier, brought a total of 6.5 billion euros in investment commitments during the visit. These agreements, signed in the form of memorandums of understanding (MOUs), are expected to significantly boost the Greek economy and position it as one of the strongest partners in Europe. More importantly, the cooperation between the two nations may go beyond mere economic deals, transforming Greece into a vital channel for China’s trade and investments in Europe.
During the visit, Premier Li met with Greek President Karolos Papoulias and toured the Piraeus container terminal operated by China Ocean Shipping (Group) Corporation (COSCO). He expressed China's willingness to deepen cooperation with Greece, aiming to transform Piraeus into a major logistics hub connecting China with Central and Eastern Europe, as well as Southeast Europe.
On Friday, Li and Greek Prime Minister Antonis Samaras jointly announced plans to launch a train full of Chinese goods heading toward Central and Eastern Europe. Li noted that Hong Kong is expected to become China’s gateway to Europe, with about 80% of Chinese cargo ships reaching Europe via sea routes through the port. This route is approximately 7 to 11 days shorter than traditional alternatives, making it the fastest shipping corridor for Chinese goods to Europe.
In addition to expanding maritime trade, China has also shown interest in investing in Greece’s railway system. Moreover, Li mentioned that China is increasing its purchases of Greek government bonds, signaling long-term confidence in the Greek economy.
Although the photovoltaic sector wasn’t explicitly discussed during the visit, both leaders emphasized the importance of promoting the China-EU investment agreement. Analysts suggest this signals Greece’s pro-China stance within the EU, especially regarding the anti-dumping case against Chinese goods.
Greece also expressed interest in privatizing the Independent Power Transmission Operator (ADMIE), with China potentially taking an ownership stake. In other developments, Enterprise Greece signed a memorandum of understanding with China Construction Engineering Corporation (CSCEC) to explore solar energy projects, including a 1.5 GW solar initiative in China. Additionally, the two countries agreed to develop 200 MW of wind power by 2017.
The visit is expected to accelerate plans for setting up a Chinese PV module assembly line in Greece. With Greece positioned as a long-term strategic partner, Chinese exports through the region are anticipated to grow steadily. Given the competitive pricing achieved in recent China-EU PV negotiations, it’s no surprise that Chinese PV manufacturers are showing strong interest in establishing local production facilities in Greece.