Simest, the finance company of the MSE which supports the internationalization of Italian companies, and Sibac, a consultancy company set up as a joint venture by Intesa Sanpaolo, Bank of China and Simest, signed two strategic agreements in Beijing on 27 March 2012 with the China-Italy Technology Transfer Center. The Cittc, born from a Memorandum of Understanding between the Italian and Chinese governments, aims to "strengthen the bilateral collaboration between the districts of local SMEs and between hi-tech industrial parks and to encourage technology transfer between China and Italy".
The agreements signed point to a "enhance the qualified presence of Italian technological excellence in China", with particular reference to SMEs and start-ups, thanks also to the financial support of external subjects such as the Cittc.
The three strategic aims on which the agreements are based are: lfacilitation of the internationalization process of Italian SMEs in the Chinese hi-tech sector; Lto promote international cooperation between companies Italian and Chinese interested in developing industrial and commercial activities together and theopening of a channel of collaboration also for universities and research centres.
The Italian SMEs interested in undertaking processes of internationalization, productive or commercial, in China in the hi-tech sector will be guided and assisted in all phases of the project by the companies promoting the agreements; in particular this aspect will be taken care of by Sibac. In fact, the consultancy firm specializes in Chinese FDI regulations, in the preparation and review of feasibility studies or business plans and in the establishment of companies or joint ventures
