Italy and China: a strengthened cooperation for a brighter economic future

How shared opportunities can help both countries

30-01-201706:09by
People's Bank of China
People's Bank of China (Credits: EPA/PETER TREBITSCH)

China is regarded by Italy as a great partner for the success of Italian companies. For this reason, Italy has recently decided to increase fourfold the investments already in place in the country, now reaching the amount of 20 million euros.

As reminded by the China-focused website AgiChina, Ivan Scalfarotto – the Italian Economic Development undersecretary – has illustrated the Italian strategy for China to all Italian entrepreneurs involved in business activities with the Asian giant. According to data, the Italian presence in China is growing in four specific sectors: pharmaceutical, home furnishing, automotive and agri-food. Within the latter, Italian wine stands out as a high-quality product, described by Scalfarotto himself as “emblematic”. “The process of transformation China is experiencing makes our economies closer”, Scalfarotto commented, very happy about the increased Italian export rate to China.

The main channel for purchases is still e-commerce, filling the gaps of distributive channels and fostering the trade. With regard to the potential obstacles to the flourishing relationship Italy-China, Scalfarotto mentioned some issues concerning intellectual property and patents along with the barriers of internal market. “Italy is in favour of free market but liberty and equity should always walk together”, Scalfarotto argued to point out the will to play by the rules.

Future sectors of investments will be aviation, aeronautics and infrastructures. Furthermore, Made in Italy in China should always keep is unique prerogative, i.e. “the Italian touch”. In fact, Italian products have always distinguished themselves for their “tailor-made” approach to the locals and for their high quality, which should not change.

All these concepts were also highlighted in Yanqi Lake, recently working as a hub for the international meeting of Italian entrepreneurs in China, together with representatives of academia, institutions all having interests in China. They gathered there for three days, exploring the economic relationship between the two countries and identifying new investment opportunities.

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