Economic and Trade Relations Between China and Italy
The year 2025 marks the 55th anniversary of diplomatic relations between Italy and China, as well as the 50th anniversary of official ties between Brussels and Beijing. These milestones built on significant events in 2024, including the 20th anniversary of the Global Strategic Partnership and the commemoration of 700 years since Marco Polo's passing.
In this context, the Sistema Italia has supported many initiatives to promote Made in Italy. During the official mission of Prime Minister Giorgia Meloni, a three-year economic cooperation action plan (2024-2027) was signed, structured into six areas: trade and investments, financial cooperation, technological innovation, sustainable development, the medical-health sector, and cultural relations. The President of the Republic, Sergio Mattarella, accompanied by Foreign Minister Antonio Tajani, visited China and was received by President Xi Jinping at the Great Hall of the People, where he participated in the Italy-China Cultural Forum and the signing of bilateral agreements.
The increase in institutional missions and participation in events and trade fairs help strengthen economic relations between the two Countries. In 2024, trade between Rome and Beijing reached USD 72 billion, with a decline in Italian exports. Italy’s total exports amounted to USD 26 billion, while imports from China reached USD 46 billion. China remains Italy's main market in the Far East and its second-largest non-European market after the United States.
Italian exports to China primarily include textiles and clothing (26 per cent), machinery and equipment (23 per cent), chemicals (8 per cent), pharmaceutical products (6 per cent), and transport equipment (6 per cent).
Regarding direct investments, Italian companies in China have a total invested capital exceeding EUR 15 billion, while Chinese investments in Italy amount to EUR 2.8 billion. More than 1,500 Italian companies operate in China, employing 130,000 people and generating EUR 32 billion in revenue.
Trade between China and the European Union is influenced by the evolving global economic landscape, including shifts in the United States trade policies and supply chain dynamics. In this context, China has expanded its network of free trade agreements with various countries and regions, including ASEAN, Latin America, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These agreements expand opportunities for trade diversification and attract new investments, with implications for Italian companies operating in the Chinese market or involved in regionally integrated supply chains.