Off the wire
• 2nd Ld-Writethru: China's forex reserves rise for 2nd month  • U.S. journal criticises Obama administration for provocation in South China Sea  • Investors, firms punished for flouting stock market rules  • Urgent: 3 militants killed in Indian-controlled Kashmir gunfight  • Roundup: China, Italy eye strengthened cooperation in wide-ranging sectors  • Search operation for victims of sunken boat resumes in central Indonesia  • Cambodian PM says his personal website hacked  • Obama calls on Congress to pass legislation to curb tax evasion  • News Analysis: Lingering territorial spat casts shadow over Russia-Japan rapprochement  • 1st Ld: China's forex reserves rise for 2nd month  
You are here: 　 Home

Roundup: Italy pays close attention to Chinese economy

Xinhua, May 7, 2016 Adjust font size:

Italian media and officials have paid close attention to China's economy and its economic transition, seeing opportunities to increase its market share in China.

Amid the seventh joint session of the China-Italy Governmental Committee and the third meeting of Sino-Italian businessmen association, China again became the media reports' highlight.

Leading business daily Il Sole 24 Ore predicted on Friday that Italian small and medium-sized enterprises might find growth chances in the Chinese market.

"China is a crucial market for our firms," Licia Mattioli, vice president of Italy's top business association Confindustria, was quoted as saying.

"China is promoting its internal reforms, and it is therefore crucial to get to know the profound changes of the Chinese economy," the daily reported.

Italian Ambassador to China Ettore Francesco Sequi commented that the Chinese economy was facing "an epoch-making transition, accompanied by an extraordinary expansion of the middle class."

"With an average of 250 million affluent citizens estimated in 2022, China will become the world's largest market for consumer goods," he told the business daily.

"This phase provides a unique opportunity for our entrepreneurial system, which does not lack the ability to adjust to the Chinese context," the ambassador said.

Italian Foreign Minister Paolo Gentiloni told the plenary session that "the visible increase of Chinese investments in Italy in the last two years is a tangible proof of China's confidence in the perspectives of our economy, and in our reform agenda."

"We want these investments to be productive and create new jobs," he added.

The joint session of the China-Italy Governmental Committee, established in 2004, seeks new cooperation opportunities in agriculture, food security, science, sustainable development, tourism and many other sectors.

The business forum mainly focused on finance, infrastructure construction and health care sectors. Representatives from leading Italian and Chinese companies also exchanged views over environmental protection and sustainable development.

As Italy aims to strengthen its economic ties with China, and increase its presence in the large Chinese market, the event was seen as a further chance to boost mutual cooperation. Endi