Italian PM boosts cooperation with China

Italian Prime Minister Giorgia Meloni embarked on her first official visit to Beijing since taking office, aiming to revitalize cooperation with China. During her five-day trip, Meloni signed a three-year action plan with Chinese Premier Li Qiang, emphasizing a new phase in bilateral relations. This visit comes after Italy's exit from China's Belt and Road Initiative, as Rome seeks to enhance trade ties with Beijing, which is currently Italy's largest non-EU trading partner. Meloni's government has expressed concerns over the imbalanced trade relationship, with Italy's trade with China reaching 66.8 billion euros in 2023, heavily favoring Beijing. The Italian leader plans to address issues such as Chinese overcapacity and the economic support China provides to Russia amid the ongoing war in Ukraine. Li Qiang highlighted the need for a "win-win mentality" to foster dynamic and sustainable trade and investment cooperation. The visit also included discussions on attracting major Chinese automakers to Italy, alongside a memorandum focusing on strategic sectors like electric mobility and renewable energy. Meloni urged China to share advancements in knowledge and technology with its partners, while also addressing geographical indications, food safety, and environmental concerns in other agreements. Despite the positive tone of the visit, tensions remain, particularly following Italy's support for the European Commission's tariffs on Chinese electric vehicles. In response, China has initiated investigations into European products, reflecting ongoing trade disputes as G7 nations, including Italy, strive to protect their markets from perceived unfair practices.