国内英语资讯:Italy, China pledge to deepen cooperation, support multilateralism_时事

国内英语资讯:Italy, China pledge to deepen cooperation, support multilateralism

"There is still a wide room for improvement, which ought to be explored," he stressed.

Data from the Italian Finance Ministry and European Union (EU) statistical office Eurostat showed that trade between Italy and China exceeded 43 billion euros in 2018.

Italy was China's fourth largest supplier from Europe in 2018, while China was the ninth destination market for Italian exports at global level, and the most important one in Asia.

In the joint declaration, the two sides also explained that Italy would "welcome China's commitments to open-up the financial sector and its implementation of related measures, including allowing foreign business to own up to 51 percent of shares in securities, futures and life insurance joint ventures."

On its part, China would "welcome Italy's participation in the opening-up process of its financial market."

Three different memorandums of understanding were inked at the closure of the event - Italy's private banking group Unicredit and export insurance agency SACE each signed a deal with the Export-Import Bank of China, while Italy's insurance regulator INVASS signed a third one with the China Banking and Insurance Regulatory Commission (CBIRC).

In the joint declaration, the two sides also agreed on "the first Panda Bond to be issued by a qualified Italian financial institution."

Such "Panda bonds" would be issued by Italian authority in order to co-finance branches or subsidiaries of Italian firms with offices in China, according to information unveiled by Italy's state lender Cassa Depositi e Prestiti (CDP) in late March.