MILAN, Apr 7 (Class Editori) - The new Observatory on Innovation of the Italy-China Foundation is set to start soon. "The goal is to test the waters to find out what is happening in China in the field of technology. For our companies China is indeed a competitor and a partner," explains the ambassador Vincenzo Petrone, general manager of the Italy-China Foundation, in the margins of the Innovation and Development Summit held in Nanjing. Around 600 participants attended the event, as sign of the attention that Chinese companies have for their Italian counterparts.
The aim is to turn the forum into an annual appointment. Such plan is linked to the launch of the Observatory, which starting from next summer will count on the opening of an office of the Foundation in Beijing.
As outlined by Petrone, Nanjing was not a random choice. The ancient capital of South China "is developing a technology and innovation hub, which would serve as headquarters of research centers on electric cars. It will also be a center of particular interest in the field of automotive components."
Additional potential collaborations between China and Italy would involve the fields of plastic, new materials and technology applied to fashion. The forum of Nanjing follows the recent presentation of Xi'an International Fashion Town in Milan, which would be an area located in the high tech zone of the city and will host the terracotta warriors. The area is dedicated to the development of the fashion field in the name of industrial innovation and will underline the importance of the collaboration with Italy.
"Start-ups in China are proving their extraordinary talent. During the forum it was pointed out how Chinese start-ups attract the half of the resources of global investment funds which operate precisely on innovative companies," added Petrone. "The new foreign investment law opens up new opportunities. The new legislation eliminates forced technology transfers. This obligation was considered an obstacle to investment. The legislation is now in force and will encourage companies to invest in Chinese technology, however it will still be necessary to monitor its implementation."
(Source:Class Editori)
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