Guangzhou and Italiy reached a number of cooperation intentions in fields such as Italian bio-economic clusters, green technology and other fields during an investment promotion event held in Milan, Italy on the afternoon of February 26th.
The event attracted representatives from the Guangzhou Municipal Government, with over a hundred Chinese and Italian political and business figures in attendance.
As the fourth-largest economy in Europe, Italy is an important trading partner and source of foreign investment for Guangzhou. In 2023, the total import and export value between Guangzhou and Italy reached 14.635 billion yuan. Italian companies have been investing in Guangzhou, with a total of 163 investment enterprises. In recent years, Guangzhou and Milan have cooperated in urban governance, grain, automobiles, and fashion.
In his speech, Liu Kan, the Chinese Consul-General in Milan, expressed that Italy's exports to China nearly reached 20 billion euros in 2023, an increase of approximately 17% year-on-year, setting a historical record. With China implementing a 15-day visa-free policy for citizens of Italy and five other European countries, individuals from various sectors in Italy can visit cities like Guangzhou to explore new opportunities in China. He hoped that both countries' business communities would significantly enhance economic and trade cooperation through well-known platforms like the Canton Fair.
The Guangzhou delegation pointed out that both sides could tap into the potential for cooperation in traditional fields and activate the vitality of cooperation in emerging sectors such as advanced manufacturing, clean energy, service trade, green environmental protection, artificial intelligence, and digitization. They welcome Italian entrepreneurs to invest in Guangzhou, driving mutually beneficial cooperation between the two sides.
Hong Qian, director general of the Guangzhou Municipal Bureau of Commerce, further illustrated that Italian enterprises could participate in Guangzhou's advanced manufacturing and strategic emerging industries. Guangzhou can provide more abundant resources and a broader market for high-end manufacturing, fashion clothing, and distinctive agricultural products of Italy, as well as in fields such as service trade, digital trade, and cross-border e-commerce.
Reporter: Nan
Editor: James
