Investment opportunities are opening up in Italy

Chinese companies have been urged to look at closer investment ties with Italian businesses. Italy is increasingly becoming a major investment destination for enterprises here. There are more than 60,000 Chinese firms with a presence in Italy, according to a report by PricewaterhouseCoopers, the multinational professional services network.

"China has the requirement to move from mass production, with strong leverage on relatively cheap labor costs, to a more sophisticated high-end manufacturing," Massimo Benedetti, transaction services leader of PwC in Italy, said.

To improve China's manufacturing level, the State Council, or the cabinet, unveiled the "Made in China 2025" plan in May. It laid out strategies for switching from low-end manufacturing to more value-added production, with domestic companies expected to make technological breakthroughs in a number of emerging industries.