(Finance) – Beyond politics and our country’s exit from the “Silk Road”, Italian and Chinese companies dictate their own economic agenda and ask for new forms of win-win productive and commercial relations. Italian exports to China exceeded USD 25 billion in the first eleven months of 2023, ours remains the most resilient European country in terms of exportsled by industrial components, pharmaceuticals and clothing.
Furthermore, the Chinese Government intends to operate in an even more decisive manner to resolve the problems relating to the recent real estate bubble, thus favoring a rapid recovery in domestic consumption (post-covid) and contributing to creating a further element of growth for the country. This is what emerges from an initiative promoted by Livolsi&Partners, the contents of which were presented during the Conference “From the geopolitics of states to the geopolitics of companies“, held in recent weeks at the Senate in Rome.
In detail of the analysis, (source ICCF Study Center – Italy China Council Foundation) in the first three quarters of 2023, whose values are to be compared with the very negative ones of the previous year conditioned by Covid, the real GDP of the Chinese giant is equal to +5.2% (forecast for 2023 at 5%). On the supply side, services grow by +6%, industrial production by +4%; on that of demand, nominal per capita consumption is equal to +9.2%, nominal fixed investments at +3.1%, the contribution from the foreign channel is in negative territory. Italian-capital companies in China and Hong Kong SAR reach 2,267 units for a turnover of 37.5 billion euros (2021 data), with a clear prevalence of wholesale and retail trade sectors (43%), which precedes services (14%) and machinery and mechanical equipment (14%) (2021 data). About the Italian companies owned by large Chinese and Hong Kong SAR groups amount to 734, which achieve a turnover of over 31 million euros. They mainly operate in services (30.9%), in the manufacturing industry (25.4%), in commerce (24%) and in construction and utilities (18.8%). Almost half of them are concentrated in Lombardy (43.2%) followed at a distance by Emilia-Romagna (11.1%), Lazio (10%), Piedmont (8.2%) and Veneto (7%).