China crucial market for Italian businesses in medium-long term: ICCF president

ROME, Oct. 26 (Xinhua) -- President of the Italy China Council Foundation (ICCF) Mario Boselli said on Thursday that China could play a key role for Italian businesses for its huge market.

Boselli made the remarks in an interview with Xinhua as the ICCF unveiled its latest report "China 2023" in Milan, taking stock of the Italian firms operating in the Chinese market.

In order to successfully enter the market, Boselli urged Italian firms to develop a good knowledge of China's business environment as well as the country's culture, and he also advised local companies eager to expand in China to develop "a medium-long term vision."

The ICCF report showed 1,133 Italian companies were operating in China by the end of 2020.

"It is a universe of 1.4 billion people ... studying China is crucial," Boselli said, adding that China could play a key role for Italian businesses not only for its huge market, but also as a platform for markets in Southeast Asia.

"Again, this requires a medium-term vision and strategy on the part of our firms ... Southeast Asia is expected to grow more than any other areas in the world," he said.

As for the Italian sectors most appealing to Chinese consumers, the ICCF president cited food (including wine), fashion, and home furbishing.

"My overall advice is to bring our best products to China ... and it doesn't mean the '3 Fs' only (food, fashion, furbishing), but (also) mechatronics, pharmaceuticals, robotics, and other cutting-edge productions," he said. (1 euro = 1.06 U.S. dollars)