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Renzi wins backing in China, inks deals

Renzi wins backing in China, inks deals

China's Xi Jinping compliments premier on reforms

Rome, 11 June 2014, 20:01

ANSA Editorial

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© ANSA/EPA

© ANSA/EPA
© ANSA/EPA

Chinese President Xi Jinping complimented Italian Premier Matteo Renzi on his ambitious programme of institutional and economic reforms Wednesday, while Italian businesses signed deals during the trade mission to China.
    The premier met Xi in the second day of his visit to China as part of an Asian tour aimed at boosting Italian trade and Italian sources described their meeting.
    Renzi became the first Italian premier to pay an official visit to Vietnam on Monday and he will also take in Kazakhstan during the tour. Renzi has launched an ambitious reform programme since toppling Enrico Letta, his colleague in the centre-left Democratic Party (PD), to become Italy's youngest-ever premier at 39 last February.
    He has presented a plan to overhaul Italy's slow, costly political apparatus, including a revamp of the Senate to turn it into a leaner assembly of local-government representatives with minimal law-making powers to save money and make passing legislation easier.
    The government has passed an 80-euro income-tax bonus for low earners and started to change labour-market regulations in a bid to combat unemployment, which has reached record levels of close to 13%, with over four in 10 under-25s jobless as the country struggles to recover from its longest postwar recession.
    Renzi's executive also plans reforms to simplify Italy's tax system, make the civil service more efficient and revamp the country's snail-paced justice system.
    Xi highlighted the importance of the partnership between Italy and China at Wednesday's meeting and said he was certain that Milan Expo 2015, which was recently hit by a corruption scandal, would be a huge success, the sources said. The Chinese president said he has visited several Italian cities, including Rome, Naples and Renzi's native Florence, in the past and added that Italy would be his top choice as a foreign holiday destination.
    Renzi responded by saying how much Italy respected China.
    "We have to learn a lot from your capacity to plan and put those plans into action," Renzi said, according to the sources. Meanwhile, Italian electricity giant Enel energy signed two deals with leading Chinese energy companies aimed at continuing cooperation and development during Renzi's visit to Beijing.
    Enel, one of Italy's biggest energy producers with an international reach, signed the memo of understanding with China Huaneng Group and the State-owned China National Nuclear Corporation (CNNC) following a business forum in Beijing.
    Francesco Starace, chief executive officer of Rome-based Enel, signed the MOU that the company says will build on joint work that began in 2009 in the field of carbon capture and storage.
    A second MOU signed by Starace with the CNNC involves information-sharing and cooperation on development, construction, operation and maintenance of nuclear power plants.
    Italian bank Intesa Sanpaolo also signed an agreement Wednesday with the Agricultural Development Bank of China on "cooperation that will promote relations between Italy and China in the agricultural sector, in view of Expo 2015".
   

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