Italy, China Sign Three-Year Action Plan

During her first official visit to Beijing, Italian Prime Minister Giorgia Meloni signed a three-year action plan with China to implement existing agreements and explore new cooperation avenues, aiming to reset the bilateral relationship following Italy's exit from the Belt and Road Initiative. Meloni emphasized the importance of this partnership in light of potential trade tensions with the European Union and the need for Chinese investment in Italy, particularly in the auto sector. Chinese Premier Li Qiang highlighted the historical role of the entrepreneurs committee in enhancing trade relations and called for mutual benefits and open markets to foster economic growth. The visit included discussions on various sectors, exemplified by Stellantis' recent joint venture with Chinese electric car startup Leapmotor to sell EVs in Europe. Both leaders expressed commitment to strengthening economic ties and enhancing trade cooperation, indicating a shared goal of achieving common prosperity. This trip is seen as a significant step in balancing Italy's foreign policy and economic interests amidst a complex global landscape.