Over 7 billions made available to Italian companies that choose to operate in China. According to the survey carried out by the ABI, the credit limit made available by the banks operating in Italy amounts to supporting the commercial and financial operations of the companies in the high potential sectors of the Chinese market. The figure was presented today by the President of the Abi Technical Committee for internationalization, Guido Rosa, on the sidelines of the Economic Forum held in Tianjin, on the occasion of the business mission dedicated to SMEs, organized by the Cassa depositi e prestiti (CDP) for the part Italian and Bank of China (BoC) on the Chinese side, in coordination with the Italian Ministry of Economic Development (MiSE) and the Chinese Ministry of Commerce (MOFCOM) and with the support of the ABI, Confindustria and ICE Agency (Forum Technical Secretariat) .
The initiative takes place on the occasion of the fifth year since the establishment of the BFIC (Business Forum Italy-China), the body founded by the Italian and Chinese Governments in 2014 with the aim of promoting economic relations between the two countries.
A delegation of five of the leading banking groups participates in the mission, representing more than 60% of the entire Italian banking world in terms of total assets: ICCREA Bank, Intesa SanPaolo, Monte dei Paschi di Siena, UniCredit, UBI Banca.
For the ABI and the banks it is the fourth time in China after the mission of the 2004, 2006 and 2010.
“The five banks participating in the mission - said Rosa - intend to strengthen the support offered to Italian companies, both from Italy and directly on the spot, strengthen relations with local counterparties, identify new ones, and increase their activities. For this reason, we organized a meeting yesterday with the Chinese Banking Association (CBA), the Central Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC) and some local banks. The meeting was a precious opportunity to take stock of the state of relations between the banks of the two countries, jointly examine how to improve the collaboration already in place and to update each other on the structure of our respective financial sectors. "
The presence of Italian banks
In addition to credit lines, entrepreneurs operating in China can avail themselves of the assistance of important reference interlocutors. In particular, a total of 8 banking groups are already present in China (Banca Popolare Di Sondrio, Banco Bpm, Bnl, Cariparma Credit Agricole Group, Bnp Paribas Group, Intesa SanPaolo, Monte dei Paschi di Siena, UniCredit and UBI Banca,) with 8 offices representative offices (2 Shanghai, 3 Beijing, 1 Canton, 2 Hong Kong), 12 branches (5 Shanghai, 1 Canton, 1 Beijing, 5 Hong Kong). During the business meetings, the five Italian banks participating in the mission provide as many assistance desks, to better support Italian and Chinese companies in identifying the most suitable financial solutions for carrying out new commercial operations and investment projects in the country.