Italy’s organizations expect China’s recovery to have "profound" effects on other economies

ROME, Nov. 6 (Xinhua) — China is one of the protagonists of post-COVID-19 recovery, and what happens in China has immediate and profound effects on other economies, said the Italy China Foundation and the Italy China Chamber of Commerce (CCIC) in a joint statement on Friday.

Friday marked the 50th anniversary of the establishment of diplomatic relations between Italy and China.

“This important anniversary occurs at a time in history that sees us all as protagonists in a global battle against a terrible virus, which has, however, seen our peoples united in the health emergency through mutual aid,” the statement said.

The pandemic has sparked many questions but also offered many certainties, the statement said.

One of these certainties is that China is, and will be, one of the protagonists of the post-COVID-19 recovery, as demonstrated by “the speed with which it reopened its businesses” and is focusing on “giving a new impetus to consumption.”

According to the data released by the National Bureau of Statistics of China, China’s economy expanded by 4.9 percent year-on-year in the third quarter (Q3) of 2020, faster than the 3.2-percent growth in Q2.

“What happens in China has immediate and profound effects on other countries, and we can be certain that the Chinese recovery will soon be followed by global recovery,” said the statement.

Italy China Foundation President Mario Boselli, who has been traveling to and from China for the past 42 years, said he had witnessed China’s transformation “into a coveted destination for our products, especially in the fashion sector.”

“As president of the Italy China Foundation, I am now pleased to contribute further to the development of relations, in all fields, between our two countries,” said Boselli.

“There are dates that determine new paths in the relations between people, institutions and countries,” commented CCIC Chairman Pier Luigi Streparava.

“Without a doubt, one of these dates is Oct. 16, 1970, which marks the birth of the Italy China Chamber of Commerce (and which) precedes that of Nov. 6, 1970, celebrating the re-establishment of diplomatic relations between Italy and China,” said Streparava.

The Italy China Foundation was created in 2003. 

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