SACE SIMEST opens an office in Shanghai with the aim of offering Italian companies a point of reference on which to develop their growth plans in mainland China and in the neighboring markets of Korea, Taiwan, Japan and Mongolia.
"After a long process of change, both internally and internationally, China is now implementing important initiatives to open also in the financial and regulatory fields - said Beniamino Quintieri, President of SACE -. This new phase brings with it concrete and quality opportunities for Italian companies in a wide range of sectors in which our excellence and competitiveness are recognized. We are proud to be the first European export credit company to have its own outpost in mainland China and thus support Italian companies in reaching a position that is equal to their potential ".
With an exchange equal to 42 billions of euros and over 1.700 Italian companies operating in the country, Italy is already the fourth commercial partner of China and has the potential to grow further, thanks to the complementarity between Italian technological and industrial know-how and the needs of Chinese development; the appeal of Made in Italy to the growing middle class and new transnational projects (such as the Belt and Road Initiative, BRI) in which China plays a driving role both at regional and global level.
Italian exports to China, after having reached 13,5 billions of euros in 2017 (+ 22%), will continue its path of growth, scoring a + 12,3% in 2018 and a + 8,8% average annual even in subsequent three years, according to SACE estimates.