China’s Li urges fair investor treatment in Italy

HONG KONG (Reuters) -Chinese Premier Li Qiang welcomed increased participation from Italian companies in the Chinese market and expressed hope for a fair and non-discriminatory environment for Chinese investors in Italy, the state-run Xinhua news agency said on Sunday.

Li’s comments follow his meeting with Italian President Giorgia Meloni on the sidelines of the Group of 20 summit in Johannesburg.

Beijing will continue to promote two-way openness with Italy and maintain bilateral engagement at all levels, Li said, according to Xinhua.

“China is willing to strengthen coordination and cooperation with Italy within multilateral frameworks such as the United Nations and the G20 and building broader consensus,” he said.

Italy, despite supporting a 2024 decision by the European Commission to impose tariffs on Chinese electric vehicles, has tried to stay in Beijing’s good books, frequently highlighting the value of Chinese investment and collaboration in Europe.

Meloni’s office said she and Li had agreed on the “importance of maintaining constructive dialogue across all areas of common interest,” in particular balanced growth in trade and mutual investment and strengthening cooperation in the scientific and cultural fields.

The Italian leader “stressed the need to ensure a level playing field for companies operating in international markets and to guarantee the security of global supply chains, especially with regard to components essential for industrial production,” her office said in a statement on Saturday.

(Reporting by Farah Master in Hong Kong and the Beijing newsroom; Additional reporting by Gianluca Semeraro in Milan; Editing by Jacqueline Wong and William Mallard)