China new frontier for Italian food, fashion

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China new frontier for Italian food, fashion

By Emily Backus (ANSA.IT) 14:14, October 23, 2013

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Florence, October 21 - Fashion and food is the latest frontier for "Made in Italy" exports to China. Italy excels at exporting clothing and footwear to Beijing - $ 688 million in 2012, or almost 5 times the value of clothes and shoes exported from Germany to China, and almost 3.5 times the figure from France.

In food and beverage sector, however, Italy shows plenty of room for growth compared to exports by neighboring countries toward China.

France exports 7.5 times more food and drink to China than Italy, Germany roughly triple.

These figures were presented during "Destination China", an event promoted by Unicredit bank and the Florence chapter of a national employers' association, Confindustria Firenze, to show local companies the potential offered by exports to the Chinese market.

It is estimated that China's importation of goods and services will grow by 7.6% annually over the next three years, generating business opportunities for foreign firms, particularly for those with recognized brand value.

"We are the most internationalized bank in (Italy) and we want to make our network available to support businesses," said Gabriele Piccini, Unicredit's country head for Italy.

"We are searching for good credit operations," Piccini added, "And we must guarantee support for businesses, helping them in the internationalization process".

"It is a fact that the companies able to better withstand the turbulence of Western economies will be those that can move the majority of their business outside national borders, especially toward more appetizing emerging markets," Piccini explained.

"Among these, China is the most attractive country, and at the same time the most complex to conquer," concluded Piccini. "It is a new kind of business-bank relationship. The bank is no longer just an entity that loans money, but also knowledge," Confindustria Firenze President Simone Bettini said.

Stefano Ricci, president of the Centro di Firenze per la Moda Italiana (CFMI), said, "China is a market with dazzling potential. Today the Chinese believe in brands, and if they have a name they know and trust, they become loyal very quickly. This should give meaning to our 'Made in Italy'".

（Editor：YaoChun、Zhang Qian）