A delegation of Tianjin in Rome

Tianjin in Rome

Rome [ENA] A delegation of Tianjin city leaders in the People's Republic of China visited Rome for top-level contacts with Italian public and private managers. Tianjin is one of the nine national central cities of the People's Republic of China (PRC), with a total population of 15,621,200 as of 2016 estimation. Its metro area, made up of 12 central districts (all but Baodi, Jizhou, Jinghai and Ninghe), was home to 12,491,300

in 2016 and is also the world's 29th-largest agglomeration (between Chengdu and Rio de Janeiro) and 11th-most populous city proper. The visit was held in the wake of the Memorandum of Understanding signed by Italy and the PRC. Consultations and exchanges of views focused on cooperation and economic and commercial development between Tianjin and Italy. Representatives of Cassa Depositi e Prestiti, a prominent Italian investment bank founded in 1850 in Turin, Confindustria (General Confederation of Italian Industry) and Bank of China took part in the meeting organized in Rome.

In total, Tianjin Development Commission in view of a strategic partnership signed seven agreements, ranging from an industrial park for small and medium enterprises to the production of biomethane and alternative energy and so on. Tienjin is located along the west coast of the Bohai Gulf, looking out to the provinces Shandong and Liaoning across those waters, bordered by Beijing 120 kilometres (75 mi) to the northwest, and except for the east, is surrounded on all sides by Hebei. There is 153 km (95 mi) of coastline and 1,137.48 kilometres (706.80 miles) of land border.

A delegation of Tianjin in Rome

It lies at the northern end of the Grand Canal of China, which connects with the Yellow River and Yangtze River. The city of Tienjin and Italy have always maintained excellent relations. The Bank of China and CDP (Cassa Depositi e Prestiti) also signed a Memorandum of Understanding. Tianjin is an area where foreign investments have a very high rate of return. Aerospace, footwear, bioengineering, new materials and artificial intelligence are among the top investment areas. Over 170 national research institutes are present in Tianjin and the city is in fourth place for urban innovation Industrial park in the Belt and Road Initiative.

The presence of representatives of Bank of China has been crucial in Rome because it is the most globally-active of China's banks, with branches on every inhabited continent. Outside of mainland China, BOC also operates in 27 countries and wants to exploit the communication bond with the Milan branch to promote cooperation opportunities for companies that wish to invest in Tianjin. Bringing together the business communities between the two countries is more and more important from a mutual benefit, mutual respect and cooperation perspective. At the moment there are currently about 80 Italian companies operating in Tianjin.