The agreement provides funding necessary to participate in fairs and to ensure resources for the supply chain. The furniture industry has made a leap forward in China in the made in Italy segments present in the Chinese import, passing from the 22nd position of 2012 to the current 4th position.
The aim is to develop innovative solutions to support credit in favor of the wood and furniture industry and finance the participation of companies in national and international exhibitions. The agreement signed between Banco Bpm with Federlegno Arredo is a step in this direction.
The associate companies will be able to rely on a mid-term financing product designed for their participation in fairs, which are set up by the association at concessionary terms. Therefore companies are introduced to a wider audience. A space will also be dedicated to the association and will be aimed at examining innovative financial solutions that can ensure resources for the supply chain.
"For many small and medium-sized companies participating in Salone del Mobile.Milano and Made expo represents an ideal showcase to exhibit the know-how underlying the made in Italy. The fair is still one of the best promotional tools, as well as an important moment of cohesion and sharing, for networking and getting in touch with the new markets. Our interest is to create a system, promote quality and innovation and foster the internationalization of enterprises. As a Federation, we are committed to providing actual support to companies, which is now strengthened with the agreement just signed, "said Emanuele Orsini, president of Federlegno.
"Our task is to assist the Italian enterprises through their growth, providing them with high added value services which would generate competitive advantages that can be defended over time", added Giuseppe Castagna, managing director of Banco Bpm.
The 2019 next edition of the Salone del Mobile.Milano in Shanghai is already scheduled on next November. Last autumn, over 22,500 visitors, buyers, importers, distributors, designers and architects attended the event. According to the latest report by the Italy-China Foundation, from 2010 exports China have tripled (+ 299%) and grew by 36% in 2017. As for the export towards the Russian market, following a strong growth, as a consequence of the crisis export have dropped by a total of 27% (while in 2017 the decline was reduced to -2%).
The economic growth boosted the purchasing power in relation to other countries, especially since 2007. With equal purchasing power, China has doubled the average spending capacity of its citizens in a decade. In recent years, the furniture industry has made a leap forward in China in the made in Italy segments present in the Chinese import, passing from the 22nd position of 2012 to the 17th position of 2015 and then to the current 4th position, as shown by data processed by the Federlegno Arredo Events Center.
China has six megacities with a population of over 10 million people and 10 cities with a population of 5 to 10 million. Furthermore, there are 265 cities with more than 1 million inhabitants. Between 2030-35, 70% of the Chinese population will live in 600 cities and the number of citizens will amount to 350 million.
(Source:Class Editori)
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