The establishment of the Shanghai Representative Office of the Association of Banking and Financial Executives of Hellenic Shipping is celebrated in Pudong. [Photo/pdnews]

Shanghai's Pudong New Area has recently seen the official establishment of the Shanghai Representative Office of the Association of Banking and Financial Executives of Hellenic Shipping.

It is the first international shipping financial institution with the China (Shanghai) Pilot Free Trade Zone Administration as the business supervisory unit.

George Xiradakis, president of the Association of Banking and Financial Executives of Hellenic Shipping, expressed anticipation for the prospects in Pudong, emphasizing the association's aim to build long-term partnerships in ship leasing, financing for second-hand vessels, and mutual investments between Greece and China.

The decision to establish a representative office in Pudong stemmed from a joint "Sino-Greek Shipping Finance Online Video Exchange", which drew participation from over 30 renowned shipowners, shipping brokers, and maritime institutions from both countries.

Following in-depth discussions with relevant departments in Pudong, Xiradakis has developed concrete plans for cooperation. These plans will enable Greek shipowners and shipping companies to gain insights into the high-quality development process in Shanghai, providing them with opportunities to access the vast Chinese market and share in future development prospects.

The Shanghai representative office will play an active role in organizing ship finance service forums, maritime forums, and other activities. Its aim is to proactively introduce Greek shipowners and maritime finance-related institutions to Pudong, with the goal of creating an integrated development industry ecosystem for shipping finance in the region.