The First China-Italy Finance Dialogue was recently held in Milan, during which China Eximbank Chairman Hu Xiaolian signed two MOUs with CEO of SACE S.p.A Alessandro Decio and Chairman of UniCredit S.p.A. Fabrizio Saccomanni respectively.
As major achievements for implementing the Joint Communique of the People’s Republic of China and the Republic of Italy on Strengthening the Comprehensive Strategic Partnership and the Memorandum of Understanding for the China-Italy Finance Dialogue, the two MOUs signed were listed in the deliverables of the First China-Italy Finance Dialogue, and were released in the Joint Declaration of the First China-Italy Finance Dialogue.
As agreed, China Eximbank and SACE S.p.A will jointly facilitate China-Italy economic exchanges and trade and support cooperation between enterprises of the two countries on projects in Italy, China or a third market in such fields as energy, infrastructure and project contracting. China Eximbank and UniCredit S.p.A. agreed to work together under the Belt and Road Initiative to promote cooperation in energy, infrastructure, trade and other sectors by ways of co-financing, guarantee, settlement services and trade finance. The two parties will also adopt multiple measures to strengthen information sharing on financial market developments, investment opportunities and project financing for more mutually beneficial results.
The signing of the MOUs has strong demonstration effect for further enhancing China-Italy economic cooperation and trade. It also helps put in place cooperation mechanism among financial institutions of the two countries, deepen bilateral and third-party market cooperation by providing tailor-made finance and insurance solutions and further support enterprises of both countries to take part in the Belt and Road Initiative.