Italian Business Community Hopeful Ahead of Meloni's Visit to China

As Italian Prime Minister Giorgia Meloni prepares for her visit to China from Saturday until July 31, representatives of the Italian business community are expressing optimistic expectations for deepening bilateral economic and trade relations, which will also benefit China-Europe relations.

As Italian Prime Minister Giorgia Meloni prepares for her visit to China from Saturday until July 31, representatives of the Italian business community are expressing optimistic expectations for deepening bilateral economic and trade relations, which will also benefit China-Europe relations.

These expectations are supported by China's vast potential market and its strengths in production and innovation. Chinese and Italian companies can establish synergistic partnerships to meet challenging targets for high-tech equipment, develop innovative solutions, and even target third markets together, as stated by Massimo Bagnasco, CEO of China Europe Carbon Neutral Technology (Chengdu), on Thursday to Global Times.

Alberto Borini, general manager of Chengdu BPlan Tech Co Ltd, also highlighted that China, nearly the world's largest market, offers significant investment opportunities for foreign companies. Borini noted that the Italian high-tech company, which began operations at the end of 2019, plans to mass-produce devices by the fourth quarter of 2024 and market them to Chinese customers in 2025. "In my opinion, there are still many opportunities to invest in China, such as in sectors like advanced technology, electric cars, the environment, and agriculture," Borini said.

This year marks the 20th anniversary of the comprehensive strategic partnership between China and Italy. During Meloni's visit, she will meet with senior Chinese leaders to exchange views on bilateral relations and issues of mutual interest. At a press conference on Thursday, Chinese Foreign Ministry spokesperson Mao Ning said, "China wants to work with Italy through this visit to cement traditional friendship, promote the spirit of the Silk Road, strengthen mutual understanding and trust, deepen practical cooperation and people-to-people and cultural exchanges, and ensure the stable and sustainable growth of China-Italy and China-EU relations."

The official visit will be Meloni's first trip to China since taking office, and bilateral trade and industrial agreements are expected to be signed during this visit. According to Reuters, numerous Italian companies from various sectors, including tire manufacturer Pirelli, energy group ENI, defense group Leonardo, wine producers, and several Italian luxury fashion groups, have been invited to the Italy-China Business Forum in Beijing on Sunday and Monday.

Zhao Junjie from the European Studies Institute of the Chinese Academy of Social Sciences noted that Meloni's visit to China is expected to foster greater cooperation in projects with significant potential and promote economic development. Zhao stated, "Meloni's practical steps show that cooperation between China and Italy will not only be beneficial for the healthy and stable development of both sides but also set an example for other EU countries."

Mario Boselli, President of the Italy China Council Foundation, emphasized that the visit's key points include reassessing the need for more balanced bilateral trade, providing more opportunities for Italian products to be exported to China, and promoting Italy as an ideal location for Chinese investments, particularly in areas like new energy products and vehicles.

According to data released by the General Administration of Customs, China-Italy trade reached 255.16 billion yuan ($35.18 billion) in the first half of 2024, marking a 1.6% annual increase.

Industry experts and representatives also expect Meloni's visit to help strengthen China-EU relations despite existing trade tensions. Bagnasco noted, "Italy is a founding member of the EU and plays an important role within the union. Therefore, deepening trade cooperation between China and Italy will also have broader benefits for China-Europe relations."