China's policy of "reform and opening-up" enhances collaboration with Italian companies
During Italian Prime Minister Giorgia Meloni's visit, China and Italy are deepening their collaborative exploration. Their relationship is characterized by complementary strengths and joint investment prospects in areas such as new energy, infrastructure, and technological innovation.
TroibNews 
Editor's note: Yang Chengyu, an associate researcher at the Institute of European Studies of the Chinese Academy of Social Sciences, authored this article. It represents his views and not necessarily those of CGTN. The article has been translated from Chinese and edited for conciseness and clarity.
Italian Prime Minister Giorgia Meloni commenced her inaugural official trip to China on Saturday (July 27), her first since her election in September 2022.
Italy has struggled with a stagnant economic recovery, receiving only minimal and mostly ineffective support from the EU. The Bank of Italy predicts a further deceleration of Italian economic growth to 0.6 percent in 2024.
Meanwhile, China has been successful in its enhanced openness and has yielded impressive outcomes in its collaborations with Southeast European countries like Greece through the Belt and Road Initiative.
The Chinese approach to investment and financial management facilitated the astonishing recovery of the Port of Piraeus, transforming it from a deficit-heavy operation into Europe's fourth largest and the Mediterranean's leading port in just ten years.
Italy stands to benefit from aligning with China's sustained rapid economic expansion, potentially speeding up its own economic revival.
The industry sectors in China and Italy complement each other well, opening doors for extensive bilateral collaboration, especially in certain industries.
During the 15th Italy-China Joint Economic Committee and Business and Dialogue Forum in April this year, Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, explicitly encouraged Chinese new energy firms, including those in the electric vehicle market, to invest in Italy.
Tapping into the market opportunities that arose after the EU investigated subsidies on Chinese electric vehicles, Italy hopes to enhance its production of new energy, thereby generating employment and stimulating local economic prosperity.
This year also commemorates the 20th anniversary of the comprehensive strategic partnership between China and Italy.
At the recent third plenary session of the 20th Central Committee of the Communist Party of China, a clear commitment was reiterated—China's ongoing dedication to its fundamental policy of opening up and its intent to further its reforms through this strategy.
The progression of China’s reforms and its commitment to openness is expected to create extensive opportunities for Italian businesses to invest in China.
In addition, China is poised to substantially invest in Italy across various sectors, including infrastructure like energy and ports, as well as high-tech industries such as high-end manufacturing and aerospace.
The cultural affinity between China and Italy, both rich in historical heritage, fosters frequent exchanges and mutual enrichment.
Marking 700 years since Marco Polo’s passing, and as China continues to upgrade its open economy systems and enhance institutional openness, Meloni’s visit is set to bolster strategic and practical cooperation between the two nations.
Ian Smith for TROIB News
Italian Prime Minister Giorgia Meloni commenced her inaugural official trip to China on Saturday (July 27), her first since her election in September 2022.
Italy has struggled with a stagnant economic recovery, receiving only minimal and mostly ineffective support from the EU. The Bank of Italy predicts a further deceleration of Italian economic growth to 0.6 percent in 2024.
Meanwhile, China has been successful in its enhanced openness and has yielded impressive outcomes in its collaborations with Southeast European countries like Greece through the Belt and Road Initiative.
The Chinese approach to investment and financial management facilitated the astonishing recovery of the Port of Piraeus, transforming it from a deficit-heavy operation into Europe's fourth largest and the Mediterranean's leading port in just ten years.
Italy stands to benefit from aligning with China's sustained rapid economic expansion, potentially speeding up its own economic revival.
The industry sectors in China and Italy complement each other well, opening doors for extensive bilateral collaboration, especially in certain industries.
During the 15th Italy-China Joint Economic Committee and Business and Dialogue Forum in April this year, Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, explicitly encouraged Chinese new energy firms, including those in the electric vehicle market, to invest in Italy.
Tapping into the market opportunities that arose after the EU investigated subsidies on Chinese electric vehicles, Italy hopes to enhance its production of new energy, thereby generating employment and stimulating local economic prosperity.
This year also commemorates the 20th anniversary of the comprehensive strategic partnership between China and Italy.
At the recent third plenary session of the 20th Central Committee of the Communist Party of China, a clear commitment was reiterated—China's ongoing dedication to its fundamental policy of opening up and its intent to further its reforms through this strategy.
The progression of China’s reforms and its commitment to openness is expected to create extensive opportunities for Italian businesses to invest in China.
In addition, China is poised to substantially invest in Italy across various sectors, including infrastructure like energy and ports, as well as high-tech industries such as high-end manufacturing and aerospace.
The cultural affinity between China and Italy, both rich in historical heritage, fosters frequent exchanges and mutual enrichment.
Marking 700 years since Marco Polo’s passing, and as China continues to upgrade its open economy systems and enhance institutional openness, Meloni’s visit is set to bolster strategic and practical cooperation between the two nations.
Ian Smith for TROIB News
