| At the 12th China International Fair for Investment and Trade (CIFIT) held on September 8-11 in Xiamen, Fujian Province, government officials and entrepreneurs from all over the world canvassed Chinese entrepreneurs and investors to invest in their countries. Foreign countries and regions rented 16,000 square meters of exhibition space, an increase of more than 50 percent from last year. Among the 74 participating countries and regions, more than 50 held seminars about their investment environments. Besides the Caribbean countries and underdeveloped African nations that are actively attracting investment, developed countries such as the Untied States, Germany, France, Italy and Sweden also showed extraordinary enthusiasm in trying to win over Chinese investors. Beijing Review interviewed Marinella Loddo, Director of the Industrial Cooperation Division of the Italian Institute for Foreign Trade which is also known as the Italian Trade Commission (ICE). |
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Marinella Loddo, Director of the Industrial Cooperation
Division of the Italian Institute for Foreign Trade
Beijing Review: ICE set up a representative office in China 42 years ago and has sent delegations to the CIFIT for four consecutive years. Why is it so active in participating in the CIFIT? What achievements has it accomplished in the past three years here?
Marinella Loddo: ICE is a government agency and has now set up representative offices in seven Chinese cities such as Beijing, Shanghai, Guangzhou and Hong Kong. Every year it organizes hundreds of promotional activities, so as to strengthen investment and trade cooperation between Italy and China and develop bilateral economic and trade relations. In recent years, by participating in the CIFIT we have effectively strengthened our association and cooperation with Chinese economic and trade circle. First, we have established a close association with the Ministry of Commerce, the China Council for the Promotion of International Trade, provincial governments and many Chinese companies. Second, we have helped Italian regions to establish economic and trade cooperation with local Chinese governments. Third, by providing information on investing in Italy, we have successfully attracted some powerful Chinese companies to invest and develop in Italy. Especially in the recent two years, we have further strengthened our efforts in attracting investment in China. As an international platform for investment and trade, the CIFIT is very helpful for us, and we will continue to participate in it.
Why are Italians so enthusiastic about coming to China to invite investment?
I don't think that China is a developing country in the traditional concept. China is a very different emerging country. Like Brazil, India and South Africa, China is of great significance to the economic development of the world. Amid the trend of global economic integration, not only does China need capital from Italy, but Italy also needs capital from China. Through this kind of bilateral investment, the two economies can achieve win-win progress.
The economies of China and Italy are complementary to each other. China also has many top companies in the world, and we need their support and cooperation. Just as almost all the most important Italian companies have established businesses in China,
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