MILAN, Sep 24 (Class Editori) – Banca Popolare di Puglia e Basilicata is ready to set up its own China Desk to provide an advisory service for companies aiming at the second largest economy in the world. "If any of the Chinese authorities and banks that have accepted our invitation want to give us their availability, we are ready", announced the president of the bank during the 'Belt & Road Initiative conference, opportunities for companies from the Puglia Region', organized in Bari by the bank and Class Editori. The Desks will serve as information points for companies. "We would obviously be ready to support them, in partnership with Chinese banks, for their development in the Chinese market", added the top manager.
BPPB follows the path of what has already been done by many large Italian banks, which entered into agreements with Chinese counterparts. "The governments of Italy and China now have an agenda focused on the strong priorities of the two economic systems. Green, agri-food and aerospace technologies are sectors in which Puglia, thanks to its business class, excels and can provide a significant contribution", added Patroni Griffi.
In the financial sector there is also room for collaboration. "China has a banking system that, under the leadership of the state, has been able to support the commercial expansion of Chinese companies towards foreign countries and is successfully supporting the Belt & Road Initiative," he explained. "China also has a world-class payment system that is already completely independent from the banking system."
Italy, under the direction of the ECB and the Bank of Italy, "has set up Risk Management units, especially as regards credit risk, at the forefront in the world. Cooperative bankings have strengths in their ability to interpret the needs of the territory and of SMEs, also developing innovative forms of support in terms of knowledge and networks to promote digitization and eco-sustainable growth, such as those we started in 2019 as BPPB" .
"Realizing ways of integrating cultural aspects and knowledge between banks, thanks to China which is contributing to support foreign growth and to spread advanced forms of payment, and Italy which is contributing for a credit risk management and the ability to interpreting the territory, could be tangible signs of cooperation", concluded Patroni Griffi, "To this end, we have given our willingness to host a couple of Chinese bankers or fintech officials at our bank and to send a couple of our young talent to China to learn". (All rights reserved)
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