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Deals signed by Italy and China after PM Meloni's trip

Italian Prime Minister Giorgia Meloni visited China at the end of July to increase cooperation with the world's secondlargest economy and reset trade ties after leaving the Belt and Roadway facilities investment plan.

Throughout her very first trip to Beijing since she took power in 2022, Meloni said that the 2 countries had signed a three-year action strategy and numerous memorandums of understanding.

Below are the primary deals announced up until now:

ELECTRIC MOBILITY

- Milan-based EuroGroup Laminations (EGLA) - which specialises in stators and rotors, 2 crucial parts of electrical motors and generators - has actually signed an initial tactical collaboration with Chinese automotive element firm Hixih Rubber Market Group.

The agreement aims to develop an EGLA-controlled joint endeavor, with the company stating it aimed to more promote development in the Chinese market in order to increase industrial penetration, in particular with EV producers.

A new R&D centre for ingenious technologies will be developed at Hixih Group's commercial base in the Shandong province, along with a brand-new modern industrial plant for the production of motor cores for manufacturers of New Energy Cars.

RENEWABLE ENERGY

- Milan-based Bee Solar and China's Huasun have signed a cooperation arrangement in the photovoltaic sector.

Bee Solar aims to set up a photovoltaic production center in Italy utilising Huasun's innovation and knowledge. The building and construction of the website is expected to start by March 2025.

Huasun has an interest in enhancing its position in the European market through cooperation with Bee Solar, the Italian market ministry said.

- China's MingYang Smart Energy, Italian energy firm Renexia and Italy's industry ministry have actually signed an agreement to establish a wind turbine factory.

The deal imagines a financial investment of around 500 million euros ($ 546 million), the ministry stated in a declaration, without clarifying how the cost would be shared

In the next 3 months the partners will pick a site for the plant, which is expected to use as much as 1,100 employees.

AUTOMOTIVE

- Talks between the Italian government and China's Dongfeng Motor Group, to develop an auto plant in Italy are at an innovative stage, according to Italian sources.

The Rome government might join Dongfeng with a minority stake in the investment which intends to establish a center for the entire of Europe.

The possible offer might likewise include other key investors, including Italian companies from the elements sector, the sources included.

(source: Reuters)