The Italy-China Foundation, chaired by Cesare Romiti, has signed an agreement with the Bank of China – China's most international and diversified commercial bank – to create a financial services platform specifically for SMEs in the two countries. Wang Lian, the director of the Bank of China for SMEs, said his bank traditionally gave loans to large companies, but now, after years of strong development in China and many more companies going public (a hundreds of IPOs), the bank's services are refocusing on SMEs: 99% of the BoC's customers are now small and medium-sized enterprises. SMEs in Italy and China are complementary – he said – but they have difficulty meeting each other and need new tools.
The Bank of China offers to find valid partners, combining, in a 'win-win' situation, the advantages of low Chinese labor costs with Italian technological excellence. A delegation of representatives of Chinese SMEs in the food, textile, and environmental technology sectors was present at the signing. ICE president Riccardo Monti noted that Italy has not yet reached its potential in China. Despite being – Italy – one of the 10 major industrial countries, it is only the 22nd commercial partner of China.
From today to Thursday Matteo Renzi is on an official visit to China and the occasion is a good one to strengthen ties and for investment opportunities in sustainable urbanization, innovative forms of agroculture, health care and environmental protection.
Attachments: Xinhua
