The Qingdao-Italy Economic and Trade Cultural Tourism Cooperation Exchange is held in Milan, Italy on April 29. [Photo/WeChat account: qdszscjzx]

The Qingdao-Italy Economic and Trade Cultural Tourism Cooperation Exchange, sponsored by the Qingdao Municipal Government, was held in Milan, Italy on April 29.

The event is the largest economic, trade, cultural, and tourism exchange activity that Qingdao has hosted in Italy in recent years, with approximately 150 guests from Italian government agencies and business circles participating.

Italy has among the strongest relationships with Qingdao of any European country, ranking as Qingdao's fourth-largest trading partner in Europe and the third-largest source of foreign investment. Investment cooperation between the two regions is also very active, with Italian companies having invested in a total of 185 projects in Qingdao.

A number of well-known Italian enterprises such as Intesa Sanpaolo and Epta Group have been expanding business operations in Qingdao and exploring the Chinese market.

With a strong industrial base, Italy and Qingdao have much potential for cooperation in areas such as machinery and equipment, automobile manufacturing, biopharmaceuticals, and cultural tourism. Qingdao will continue to deepen friendly exchanges with Italy at the local level and share new opportunities for cooperation and development.

Wang Zhijun, director of the Qingdao Municipal Bureau of Commerce, introduced the investment environment in Qingdao and the cooperation and development opportunities for Italian enterprises in Qingdao, while Pan Feng, director of the Municipal Bureau of Culture and Tourism, promoted cultural and tourism in Qingdao.