MILAN, Sep 26 (Class Editori) – 7 billion euros provided for the internationalization of Italian companies in China. This is the platfond offered by the five banks present in Tianjin for the business mission organized in the municipality as part of the Italy-China Business Forum. Meanwhile, besides the platfond, the first company was able to benefit from the loans in yuan granted by Cassa Depositi e Prestiti with the collection of its first Panda bond.
The Forum organized in Shanghai by CDP and the Bank of China, in coordination with the Ministry of Italian Economic Development and the Chinese Ministry of Commerce, with the support of Confidustria, ICE and ABI. The banking world was represented by Iccrea Banca, Intesa San Paolo, Monte dei Paschi, Unicredit and Ubi. The institutions "aims at strengthening the support offered to Italian companies, both from Italy and directly on site, strengthen relations with local counterparts, identify new ones, and increase their activities", explained the president of the ABI technical committee for internationalization, Guido Rosa.
During the mission, the credit institutions had also the opportunity to meet the Chinese Banking Association (CBA), the Chinese Central Bank (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC) and some local banks, to further strengthen their ties.
Just last week, Friday 20 September, on the occasion of the Belt & Road Initiative conference, an opportunity for companies from the Puglia Region organized by Class Editori and the Banca Popolare di Puglia e Basilicata, the economic and commercial adviser of the Chinese Embassy in Italy, Li Bin, hoped for closer cooperation in the financial sector between the two countries.
The SME Forum was also an opportunity to present the 393 million yuan loan - almost 50 million euros - granted by Cassa Depositi e Prestiti using the liquidity coming from the issue of renmbi Securities. The credit line has been granted in favor of Deutz Fahr Machinery Co. Ltd., a Chinese company controlled by the Italian group SDF, one of the world's leading manufacturers of tractors, harvesting machines and diesel engines, with consolidated revenues of over one billion euros. Bank of China Milan branch acted as Facility Agent in the transaction.
The resources will be destined to support the growth of the SDF group in China with the strengthening of production lines, the renewal of plants and machinery and the development of new products.
The SDF group has been present in China since 2011. In the Chinese market, it is active in the production and sale of agricultural machinery and equipment and offers after-sales services. The production facilities, located in the Shandong region, have a size of approximately 80 thousand square meters covered and are mainly intended for the construction of tractors and harvesting machines. The production capacity of the plants is equal to 20 thousand units per year, destined in particular to the Asian market.
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