Chinese President Hu Jintao vowed to increase maritime investment in Greece after the signing of a 3.4 billion euro deal to run the country's largest port, despite protests from dockers.
Hu and Greek Prime Minister Costas Karamanlis witnessed the signing of the contract by state-controlled China Ocean Shipping Company (Cosco) to operate the container port of Piraeus (OLP) for 35 years, part of Greece's privatisation agenda.
"Our priorities are to widen our economic cooperation ... to strengthen maritime cooperation and investments," the Chinese leader told journalists, during a three-day state visit.
Greece controls one fifth of the world's merchant fleet. Its ship owners have profited from a huge boom in demand for iron ore, oil and grain from China in recent years, and they are the largest clients for Chinese shipbuilding yards.
Until a collapse in freight rates earlier this year, the boom helped Greece's economy grow by 4% a year for a decade.
"The agreement between OLP and Cosco signals a new important chapter," said Greek Prime Minister Costas Karamanlis. "Greek ports can become transit points for Chinese goods to the EU and southeast Europe, as well as the Mediterranean."
Several hundred dockworkers, carrying a banner reading "Cosco Go Home" and waving black flags, marched past the Greek parliament before the signing, saying the deal would mean job losses and tougher labour conditions.
"They must not sell the ports. OLP is a profitable business ... it doesn't make sense," said Manolis Gemeliaris, 54, an engineer at the port. "When Cosco comes, we will lose our jobs."
The Chinese company has insisted that it will create 1,000 new jobs at the port for Greek workers and more than double its capacity by 2015.
Hu, who toured the ancient temples of the Acropolis in central Athens with his wife, has insisted during his visit that China's economy is still experiencing "significant growth" and he would cooperate with international efforts to tackle the global economic downturn.
However, the World Bank said in a report published Tuesday that China's economic growth would slow to 7.5% next year, its lowest rate since 1990, despite a 4 trillion yuan ($US586 billion) stimulus package.
Despite the opposition of Greece's restive unions, the conservative government is pressing ahead with privatisations and has put loss-making Olympic Airlines on the block.
The ruling New Democracy party, whose parliamentary majority was cut to one seat this month by the expulsion of a rebel deputy, has fallen behind in opinion polls for the first time since winning power in 2004 amid discontent at its economic policies. Many analysts expect an early election next year, ahead of a 2011 deadline.
Hu and Greek Prime Minister Costas Karamanlis witnessed the signing of the contract by state-controlled China Ocean Shipping Company (Cosco) to operate the container port of Piraeus (OLP) for 35 years, part of Greece's privatisation agenda.
"Our priorities are to widen our economic cooperation ... to strengthen maritime cooperation and investments," the Chinese leader told journalists, during a three-day state visit.
Greece controls one fifth of the world's merchant fleet. Its ship owners have profited from a huge boom in demand for iron ore, oil and grain from China in recent years, and they are the largest clients for Chinese shipbuilding yards.
Until a collapse in freight rates earlier this year, the boom helped Greece's economy grow by 4% a year for a decade.
"The agreement between OLP and Cosco signals a new important chapter," said Greek Prime Minister Costas Karamanlis. "Greek ports can become transit points for Chinese goods to the EU and southeast Europe, as well as the Mediterranean."
Several hundred dockworkers, carrying a banner reading "Cosco Go Home" and waving black flags, marched past the Greek parliament before the signing, saying the deal would mean job losses and tougher labour conditions.
"They must not sell the ports. OLP is a profitable business ... it doesn't make sense," said Manolis Gemeliaris, 54, an engineer at the port. "When Cosco comes, we will lose our jobs."
The Chinese company has insisted that it will create 1,000 new jobs at the port for Greek workers and more than double its capacity by 2015.
Hu, who toured the ancient temples of the Acropolis in central Athens with his wife, has insisted during his visit that China's economy is still experiencing "significant growth" and he would cooperate with international efforts to tackle the global economic downturn.
However, the World Bank said in a report published Tuesday that China's economic growth would slow to 7.5% next year, its lowest rate since 1990, despite a 4 trillion yuan ($US586 billion) stimulus package.
Despite the opposition of Greece's restive unions, the conservative government is pressing ahead with privatisations and has put loss-making Olympic Airlines on the block.
The ruling New Democracy party, whose parliamentary majority was cut to one seat this month by the expulsion of a rebel deputy, has fallen behind in opinion polls for the first time since winning power in 2004 amid discontent at its economic policies. Many analysts expect an early election next year, ahead of a 2011 deadline.