xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

maritime silk road search
Class Editori News

Sace teams up with China Exim Bank

July 11, 2019


Abstract : Sace signs agreement with Chinese export credit company as part of the financial bilateral forum taking place on July 10th in Milan, in the presence of Minister Giovanni Tria and of Liu Kun.

MILAN, Jul 10 (Class Editori) – Creating new business opportunities in China and in Third countries should be the focus of the new cooperation agreement signed on July 10th in Milan between Sace and its Chinese counterpart, China Exim Bank. According to MF-Milano Finanza, the MoU figures among the propositions up for discussion during the Italy-China financial forum, running on the same day. Another agreement in the works is that between Ivass and the regulatory commission of the Chinese banking and insurance system, regarding companies supervision.

The event takes place not even three months after the signing of the cooperation agreement between Italy and China on the New Silk Road. Rome has all the intent of evening its trade deficit out and does not hide it, since it managed to peak at 18 billion in 2018. Thus, the purpose of the forum – opened by CDP (Italian Deposit and Consignment) CEO Fabrizio Palermo and by Liu Liange, the new President of Bank of China – is that of leveling the playing field.

Among its several objectives: facilitating the opening of China’s financial system while promoting the operations of Italian financial institutions and insurance companies; supporting Italian companies in increasing their market share, involving them in projects along the BRI – which Beijing has committed to make more environmentally, financially and socially sustainable.

Sace’s agreement finds its place within this framework, as the document traces over the one already signed with Sinosure – the Chinese export credit company. It involves a reinsurance agreement for the promotion of operations of mutual benefit through a risk sharing platform, focused on exports and on the realization of strategic projects in geographic areas of commercial interest for both countries.

As for China Exim Bank, they are driven by similar intentions – promoting exports and cooperation, also in countries touched by the New Silk Road. For example, a Chinese company operating with the support of China Exim, which may be in need of suppliers, could make use of Sace’s suggested names, as well as of the insurance and support product packages offered by the CDP subsidiary.

The MoU could also bring immediate concrete results. According again to MF-Milano Finanza, some tailor-made projects are already under discussion. The cooperation fields should be the petrochemical, infrastructural and aviation sectors.

(Source:Class Editori)

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: class Italy

Reading:

Ricci (menswear) entrusts Giglio with its Chinese e-commerce

CCCC calls Italian companies in Guangdong industrial districts

Italy, China pledge to deepen cooperation, support multilateralism

Direct high-speed train service launched between Tianjin, Hong Kong

Italian firms keen to participate in Belt & Road for win-win results

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial