CDP and Bank of China: preliminary cooperation agreement signed to encourage exports and the international expansion of Italian enterprises in China

Press release

CDP and Bank of China: preliminary cooperation agreement signed to encourage exports and the international expansion of Italian enterprises in China

Beijing, 28 August 2018

Today, in the presence of the Ministry of the Economy and Finance of the Italian Republic, Giovanni Tria, a preliminary agreement was signed between Cassa depositi e prestiti S.p.A. (CDP), the Italian National Promotional Institution, and Bank of China Limited (BoC), one of the largest Chinese state-owned commercial banks.

The agreement – signed by the CEO of CDP, Fabrizio Palermo, and the Vice-president of BoC, Lin Jinzhen – aims to encourage active cooperation between the two Institutions, regarding the support of exports, financing infrastructural projects and environmental sustainability, activities in the capital markets and sharing experience and skills, to obtain a greater awareness of the respective business models.

With the agreement signed today, the two Institutions show their intention to play an active role in strengthening the international expansion process of Italian companies in China, with special attention to medium-small sized ones, also as part of the “Belt and Road” initiative of the Chinese Government.

Furthermore, the agreement envisages the identification of additional areas of cooperation to guarantee access to credit and medium/long-term loans of Italian exporters, also with possible issues in the local currency in the Panda Bond market.

With this agreement CDP intends to play an active, stable and innovative role in supporting Italian companies operating in China. Guaranteeing access to the capital market for Italian companies working abroad is crucial for the competitiveness of the country, in a global context that is becoming increasingly challenging, divided and complex.

The ceremony took place at the BoC headquarters in Beijing, in the presence, for the Chinese party, also of the CEO and Chairman of the Board of Directors, Liu Lian Ge, and the Chairman, Chen Siging.

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