On July 22, 2021, a signing ceremony of an investment cooperation agreement on the bio-stimulant production plant project between Tianjin Port Free Trade Zone Administrative Committee, SICIT Group and Jiegao (Tianjin) Technology Company was held in Tianjin Port Free Trade Zone. The Vicenza-based chemical group SICIT will soon open a production plant in Tianjin Port Free Trade Zone, Tianjin, China. With this new investment, SICIT aims to increase its business volume in the entire APAC area significantly.

Founded in 1960 in Chiampo (VI), SICIT was one of the first companies in the world to introduce protein hydrolysates of animal origin into the world market of bio-stimulants. The company, one of the pioneers of the circular economy, through a process of hydrolysis of residues from the tanning industry, creates high-added-value products for agriculture (bio-stimulants) and plaster industry (retardants).

Tianjin is one of the four municipalities under the direct administration of the Central Government of China. It serves as an important passage for provinces in northern China, and it is also the largest port city in northern China. Tianjin has a profound history of exchanges and a good foundation for cooperation with Italy. To implement the Belt and Road Initiative, the Tianjin Government decided to establish the Tianjin Italian SME Industrial Park relying on Tianjin Port Free Trade Zone in 2019. The park aims to provide Italian SMEs with a world-class business environment, create a bridgehead for Italian enterprises and products to enter the Chinese market, and promote cooperation in industries, economy and trade, science and technology between the two countries. Tianjin Port Free Trade Zone Administrative Committee has set up a dedicated service agency for Italian-invested companies, built various enterprise operation carriers, and formulated incentives to provide quality services.

In the first five months of 2021, the trade volume between China and Italy increased by 50% y-o-y, and Italy's exports to China increased by 75%, the highest growth rate among major EU countries, which fully demonstrated the strong resilience and great potential of China-Italy practical cooperation. China aims to expand domestic demand further and foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other, which will provide a strong impetus for better connectivity between the two major markets in China and Europe. The EU-China Geographical Indications Agreement has been in force, and the negotiation on the EU-China Comprehensive Agreement on Investment has been completed. More convenience will be provided for high-quality "Made in Italy" to expand into the Chinese market and offer new prospects for the close economic and trade relations between the two countries.