Italian export credit institution opens in Shanghai

Italian export credit institution SACE SIMEST inaugurated its Shanghai office on Tuesday - the first European agency of its kind to be established in the Chinese mainland - in hope of strengthening Sino-Italian trade relations and working alongside China's Belt and Road Initiative.

With the establishment of its Shanghai office, SACE will provide medium to long-term loans, credit lines, risk management and contract guarantee services to Italian companies with operations in the Chinese mainland.

SACE said it will also help Chinese companies intending to extend their reach into the Italian market, especially in industries such as machinery, agribusiness, healthcare, tourism and cultural exchanges.