China-Italy deal a milestone in cooperation

Since the establishment of diplomatic relations between China and Italy in 1970, bilateral relations have developed rapidly bearing fruitful results in various fields. Italy is one of the largest economies in the European Union and an important partner of China in Europe, and the two countries have deepened pragmatic cooperation since establishing a comprehensive strategic partnership in 2004.

President Xi Jinping's state visit to Italy has further deepened the Sino-Italian political and economic relationship with the two countries signing a memorandum of understanding on Saturday to jointly promote the Belt and Road Initiative. Which is a milestone for not only Sino-Italian partnership but also international free trade.

China and Italy complement each other in terms of resource endowment, with trade cooperation being the cornerstone of their relationship. Belt and Road projects have already helped expand the shipping trade in the Mediterranean region, creating unprecedented development opportunities for Italy's major ports.