Welcome to the Tianjin Italian SME Industrial Park Website!
China and Italy, located at the ends of the ancient Silk Road, are prosperous partners in cooperation. In recent years, the two countries have achieved fruitful results in economic, technological, and cultural cooperation. China is Italy's main trading partner in Asia and the third largest source of imports. Italy, as a developed industrial country, boasts over 98% of its enterprises categorized as small and medium-sized, earning it the title of 'Kingdom of Small and Medium Enterprises.' Italy is the fourth largest trading partner of China in the European Union, the third largest technology importer, the fourth largest export market, and the fifth largest source of imports. The total volume of imports and exports between the two sides has been increasing, reaching 77.884 billion US dollars in 2022, a year-on-year increase of 5.4%. At the same time, the stock of direct investment between China and Italy has exceeded 10 billion US dollars, showcasing the robust resilience and vast potential of pragmatic cooperation between the two countries.
Tianjin: A Strategic Hub for Sino-Italian Collaboration
As one of China's municipalities directly under the central government, Tianjin is an important hub of the Maritime Silk Road and a convergence point of the 'Belt and Road' initiative. It has a vast economic hinterland and a crucial port city status. Tianjin boasts a longstanding history of exchanges with Italy, fostering a solid foundation for cooperation between the two sides. Worth mentioning is the Italian-style area in Tianjin, currently the largest and best-preserved cluster of Italian architecture in Asia, fully displaying the profound cultural exchanges between the two countries.
Tianjin and Italy: A Productive Partnership
In 2019, the total import and export volume between Tianjin and Italy reached 7.45 billion RMB, a year-on-year increase of 14.2%. As of the end of 2021, Italy had established 78 foreign-invested enterprises in Tianjin, with contractual foreign investment reaching 942 million US dollars and actual investment reaching 470 million US dollars. During the COVID-19 pandemic in 2020, Tianjin donated a large amount of anti-epidemic materials to Italy, demonstrating the spirit of friendly cooperation between the two sides.
Tianjin Port Free Trade Zone: An Essential Economic Functional Zone in Northern China
As an important economic functional zone in northern China, the Tianjin Port Free Trade Zone continues to grow and develop, becoming a vital engine for the Belt and Road Initiative*, free trade pilot zones, and coordinated development of the Beijing-Tianjin-Hebei region. It actively builds various industrial clusters, including civil aviation, biotechnology, marine economy, hydrogen energy, and intelligent technology.
Tianjin Italian SME Industrial Park: A Premier Destination for Italian Investment in China
To deepen Sino-Italian cooperation, the Tianjin Municipal Government has decided to establish the Tianjin Italy SME Industrial Park based on the Tianjin Port Free Trade Zone. It aims to create a favorable business environment, support the development of Italian SMEs in Tianjin, and promote cooperation between the two countries in industries, trade, and technology. This industrial park will become the prime location for Italian investment in China, a bridgehead for China-Italian strategic cooperation, and an internationally influential economic and trade cooperation zone. To realize this vision, the Tianjin Port Free Trade Zone has established a strategic partnership with the China-Italy Chamber of Commerce, established specialized service agencies and various operational carriers, and formulated multiple supportive policies to provide the best services for Italian businesses.
China and Italy: A Promising Path Forward
Looking ahead, China's economy will continue to improve in terms of quality and efficiency, and the middle-income group is anticipated to expand significantly, generating a sustained demand for quality goods and services. At the same time, China remains committed to curbing carbon dioxide emissions and attaining carbon neutrality. Several authoritative institutions predict that China's growth rate can maintain at around 5% over the next five years. By 2030, the per capita GDP is expected to reach $20,000. China will continue to be an important engine for global growth, and according to the International Monetary Fund and other predictions, China's contribution to world economic growth can reach 35% by 2030. The enormous potential demand released by China's vast market size and its continuous development in advanced manufacturing, new urbanization, and green low-carbon transformation will provide more opportunities for Italy's high-quality products and services. Moreover, the commencement of the China-EU Geographical Indications Agreement will also assist in the expansion of 'Made in Italy' in the Chinese market. President Xi Jinping highlighted the potential for cooperation in high-end manufacturing, clean energy, aviation and aerospace, and third-party markets during his meeting with Prime Minister Meloni. China is dedicated to increased openness and will import more high-quality products from Italy. In addition, important economic and trade agreements between the two countries, such as the import of Italian pears into China and the registration of beef enterprises in China, were signed in June this year. Next year marks the 20th anniversary of the establishment of the comprehensive strategic partnership between China and Italy and also the 700th commemoration of Marco Polo's demise, presenting a significant opportunity for further bilateral relations.
The Tianjin Port Free Trade Zone will continue to uphold the concept of win-win cooperation and provide a superior business environment through the Tianjin Italy SME Industrial Park, thereby jointly creating a new chapter in Tianjin-Italy cooperation!
*The Belt and Road Initiative (BRI) was first proposed by China’s President Xi Jinping during state visits to Kazakhstan and Indonesia in 2013. Officially, it was initiated with the publication of the first key document, ‘Vision and Actions on Jointly Building the Silk Road Economic Belt and 21st-Century Maritime Silk Road,’ in 2015. The BRI aims at fostering international prosperity in general, and that of the countries involved in particular. Additionally, it aims to promote regional economic integration and social interaction among the countries involved, thus contributing to world peace. China seeks cooperation with the BRI countries and regions in political communications, infrastructure connection, trade relations, circulations of currencies and financial resources, and mutual social understandings.