Confindustria: 'Big gap to be filled for exports to China'

"According to the Confindustria Studies Centre, the export potential that we can still fill in the Chinese market is €2.4 billion for consumer goods alone and €2 billion for capital goods". The vice-president for export and investment attraction of Confindustria, Barbara Cimmino, underlined this at the round table 'Italy investing in China: trends and perspective' organised in Beijing by Confindustria and the Italian Chamber of Commerce in China within the VIIth Italy-China Business Forum, on the occasion of the visit of Premier Giorgia Meloni. 115 Italian companies and business associations participated.

"Mutually beneficial relationships under the banner of reciprocity are needed to ensure equal market access conditions, including a more pronounced convergence of standards and technical regulations, the gap between which entails significant additional costs for SMEs in particular. It is also for this reason that large companies present in China can play the role of business ambassadors and drivers within supply chains, sharing experiences and networks, accreditation with local authorities and other fundamental elements for reading the market,' comments Barbara Cimmino. For Lorenzo Riccardi, President of the Italian Chamber of Commerce in China, "China continues to confirm itself as strategic for Italian exports. The growing number and value of institutional missions in the country significantly promote economic relations between Italy and China," which count - he points out - on Italian foreign direct investment of over 15 billion euro, with over 1300 manufacturing investments (the majority of companies present) with 130,000 employees and a turnover of 33 billion euro. Leading the companies in the various sectors are the associations, Anfia, Assica, Farmindustria, Federmacchine, and Sistema Moda Italia.

For Anfia, the association of the automotive supply chain, the president Roberto Vavassori, 'illustrated to his Chinese counterparts,' explains a note, 'the supply chain skills present in our country and the reasons that suggest a rebalance between direct investments, so far made by Italian companies in China (Ice data) of about 5 billion euro to be bridged. A figure that leaves room for the presence of at least one manufacturer in Italy'. Assica (meat and cured meat industrialists) emphasised that, despite the fact that the Chinese market is closed to imports of pork products due to the African swine plague, it strongly believes in the country to which it exported 60 million euros until two years ago. The hope is that the possibility of exporting can soon be resumed on the basis of shared health protocols between Italy and China with the commitment of the two countries' institutions. Farmindustria pointed out that 'China is Italy's second non-European partner after the USA in the pharmaceutical sector and is pushing hard for investment in the sector, also guaranteeing greater patent protection. Important Italian companies have been active in China for several years and can grow further. This is also why the Prime Minister's current mission is of strategic importance'. According to Federmacchine, 'China was the fourth largest market in 2023 with almost 2 billion euros in machinery purchases. Despite a slight drop in Italian exports of the sector to China and some policies that do not facilitate trade, the association highlighted the great opportunities offered by this market and collaboration with Chinese companies'. Sistema Moda Italia 'said it was in favour of free trade in international trade as a pillar of competitiveness, but emphasised the importance for the textile-clothing sector of fair and advantageous trade relations for Italian producers, respecting the level playing field and the rules of safety, traceability and quality of imported products, especially e-commerce products, as defined by European standards'.