we also hope that all excellent Chinese companies will invest in Italy, taking advantage of each other's strength. For example, Italy's Province of Alessandria and China's Jiangsu Province decided to invest in each other after consultations. Alessandria set up a company for producing renewable energy in Jiangsu, while Jiangsu set up a hi-tech company in Naples. Anyhow, we never consider China as a country of cheap labor, but a high-level and reliable partner. This is the reason that we are enthusiastic about inviting investment from China.

By now, how many Chinese companies have established businesses in Italy? How are they developing in Italy? What difficulties and problems are they facing there?

At present, more than 100 famous Chinese companies have established businesses in Italy, including China Ocean Shipping (Group) Co. (COSCO), Baosteel Group Corp., Haier Group, Anhui Jianghuai Automobile Co. Ltd. and Chongqing Chana Auto Co. Ltd. Take COSCO as an example. Its investment project in the port of Naples runs quite well, and now COSCO also is investing 217 million euros to set up a new container pier. In recent years, there have been some new trends for the development of Chinese companies in Italy. Chinese companies have started doing mergers and acquisitions in Italy. In 2007, China's Wenzhou Hazan Shoes Co. Ltd. acquired Italian shoemaker Wilson and set up a design center and manufacturing unit there. In the same year, a famous Italian sportswear brand, Sergio Tacchini, was acquired by a large-scale Chinese fashion distributor, Hembly International Holdings Ltd. Since these acquisitions comply with the principles of free will, fairness and mutual benefit, all the involved parties are satisfied. Moreover, not remaining content with simple production and assembly, some Chinese companies began to establish research and development centers in Italy, further improving the quality and performance of products by utilizing local designs and research and development capabilities. For example, Chongqing Chana Auto Co. Ltd. has set up a research and development center in Italy's Turin. Excellent Chinese and Italian automobile researchers are working in the center now.

For better development in Italy, Chinese companies, of course, need to overcome the huge differences between the East and the West in terms of history, culture, ideas and even policies and laws, so as to better merge into the local society.

What advantages does Italy have in attracting Chinese investment? Which regions and fields will be stressed to promote at this year's CIFIT? What do you think about China?

This year at the CIFIT we will stress the promotion of vast investment opportunities in three regions in Italy: Piemonte, Veneto and Tuscany. These regions have developed economies, sound infrastructures, and their own solid bases and wide investment value in the fields of logistics, telecommunications and information technologies, life science, automobiles and renewable energies.

I have been to Xiamen for the CIFIT twice. My first visit to China was in 1996 when I went to Shanghai. At that time, looking from the opposite side of the Huangpujiang River, Pudong District only had a few scattered buildings and lights. But when I went to Shanghai again in 2000, Pudong District had forest of high-rises and the roar of traffic. China is developing so fast. The development of the CIFIT is also inspiring. It is a very good platform, where we can get various kinds of information. I hope that via this platform, we can know more about China, and at the same time, Chinese people can know more about Italy.