Italy and China have a strong economic relationship, with Italy historically playing a key role in China’s European trade network and China becoming an important market for Italian goods. Despite competition in certain sectors, the two countries continue to maintain a dynamic partnership.

Italy and China have maintained a robust investment and trade partnership, as well as high-level interactions, despite Italy’s adjusted strategy towards China after the exit from the BRI. Prime Minister Giorgia Meloni’s visit to Beijing demonstrated Italy’s position on China, with discussions focusing on high-value sectors and enhancing trade

China and Italy have long enjoyed a dynamic and mutually beneficial economic relationship, with each country playing a significant role as a trading partner for the other. For years, Italy has been a key player in China’s European trade network, while China has increasingly become an important market for Italian goods and investments.

Despite evolving dynamics and a noticeable shift towards greater competition in certain sectors, such as fashion and machinery, where Italian industries have historically been strong, the two countries continue to maintain a strong relationship. This evolution in their economic interactions could influence broader European perspectives on China, especially given Italy’s strategic position within the EU-China framework.

China and Italy, both distinguished by their ancient civilizations and rich cultural heritage, have maintained a long history of interaction. As early as the late second century BC, Chinese silk began reaching Italy, signifying the start of a deep connection between the two regions. From ancient Rome to the Renaissance, Italy led in cultural exchanges with China, with notable milestones including Marco Polo’s travels in China (1271-1295) and the Jesuit Matteo Ricci’s (1552-1610) introduction of Western science, mathematics, astronomy and cartography to China.

The Republic of Italy and the People’s Republic of China officially established diplomatic relations on November 6, 1970. Since then, their relationship has grown into a multifaceted partnership, marked by significant cooperation in trade, culture, and political dialogue while navigating the complexities of global and regional dynamics.

In 2004, China and Italy elevated their ties to a comprehensive strategic partnership. The 15th anniversary of this partnership was celebrated in 2019 during a state visit by Chinese President Xi Jinping to Italy. During this visit, both nations signed several key agreements, including a memorandum of understanding (MoU) for collaboration under the Belt and Road Initiative (BRI).

The year 2020 marked the 50th anniversary of their diplomatic relations, which was observed amid the COVID-19 pandemic. Despite the pandemic causing interruptions to mutual visits, high-level exchanges continued to progress the goals set forth in previous agreements.

This article is republished from China Briefing. Read the rest of the original article.

China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.

China’s exports grew by 6.9% in H1 2024 to RMB 12.13 trillion, driven by high-tech sectors like integrated circuits and automobiles. Despite geopolitical tensions and domestic pressures, trade with ASEAN and Latin America increased while trade with the EU, US, Japan, and Australia decreased. China’s trade surplus reached US$435 billion, highlighting its strong economic performance.

China’s export performance soared in H1 2024, climbing 6.9 percent to RMB 12.13 trillion (US$1.67 trillion). The surge was fueled by strong showings from high-tech sectors like integrated circuits and automobiles. Nevertheless, geopolitical tensions and domestic economic pressures will temper an optimistic outlook. Additionally, the trade landscape has shifted notably, with increased trade volumes with ASEAN and Latin America, while exports to the EU, the US, Japan, and Australia have decreased. In this article, we take a closer look at China’s H1 2024 trade expansion.

China’s foreign trade in the first half of 2024 reached US$2.98 trillion, a 2.9 percent increase year-on-year in dollar terms, generating a trade surplus of US$435 billion, up 8.6 percent year-on-year. In RMB terms, the trade expansion is even more substantial – at a 6.1 percent surge year-on-year. This growth highlights China’s robust performance amid a complex global trade landscape and accelerating economic momentum.

Exports played a crucial role in China’s trade expansion, totaling US$1.71 trillion, up 3.6 percent year-on-year. Key sectors driving export growth included electromechanical products, with integrated circuits and automobiles seeing impressive increases. Integrated circuit exports surged by 25.6 percent, while automotive exports rose by 22.2 percent, showcasing China’s rising position in high-tech and automotive markets.

Understanding these trends is essential for grasping the broader economic and trade dynamics, as well as the international reactions to China’s evolving trade policies. This article explores the factors behind China’s strong export growth, the key markets contributing to this performance, and the outlook for Chinese exports amid rising global economic tensions.

China’s export performance has been a subject of considerable interest and analysis, particularly given its impressive growth trajectory over recent years. Between 2019 and 2023, the value of China’s exports to the world rose by 35.2 percent, reaching a substantial US$3.38 trillion.

This upward trend extended into the first half of 2024, with exports increasing by 3.8 percent year-on-year in dollar terms, reaching a total of US$1.71 trillion. This period also saw China achieve a record monthly trade surplus of US$99 billion in June 2024, according to fDi Intelligence, underscoring its dominant position in global trade.

The table below represents the total trade breakdown of January to June 2024.

This article is republished from China Briefing. Read the rest of the original article.

China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.

China’s new measures aim to simplify hotel accommodations for overseas travelers by removing qualification barriers and improving service standards, payment convenience, and registration processes. This addresses challenges faced by foreign guests and supports China’s goals of high-level openness and inbound tourism growth, following complaints from foreign travelers.

China introduced new measures aiming to simplify hotel accommodations for overseas travelers by removing qualification barriers and enhancing service standards, payment convenience, and registration processes. These changes address previous challenges faced by foreign guests and support China’s broader goals of high-level openness and inbound tourism growth.

On July 25, 2024, the Ministry of Commerce (MOFCOM) and six other departments jointly issued the Notice on Several Measures to Facilitate Accommodation for Overseas Personnel in High-Level Service and Opening Up (The Notice), to address the difficulties faced by inbound overseas travelers regarding hotel accommodation.

This follows up on several foreign travelers from Nigeria and the United Kingdom who left messages on the Chinese government website, reflecting that they were refused when attempting to check in at hotels in China.

To solve the issues flagged by overseas travelers, the Notice proposed accommodation facilitation measures in the following eight aspects: operating in compliance with the law, enhancing reception capacity, strengthening industry self-discipline, leveraging platform roles, optimizing registration management, ensuring smooth service channels, improving payment convenience, and fostering a friendly atmosphere.

We summarize the details of the proposed measures below:

Foreign travelers often encounter difficulties when attempting to check into hotels in China. Reasons for hotel refusals include not having the necessary qualifications for foreign guests or not knowing how to input information into the system.

In China, there used to be a rule that only foreign-related hotels, or “涉外酒店” (shè wài jiǔdiàn) can accommodate foreigners. Such hotels refers to accommodation facilities such as hotels, guesthouses, apartments, and resorts that have been approved by various levels of business administration and public security departments to accommodate foreigners, overseas Chinese, Hong Kong and Macau compatriots, and Taiwanese.

This article is republished from China Briefing. Read the rest of the original article.

China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.