Strong business interest

"The strong business interest between the two countries persists, and Italian companies are eager to do business regardless of the government in power," she said. Azzolina believes Italy will work toward finding a balance and maintaining strong ties with China, as cultural connections have always been significant.

Fan Xianwei, secretary-general of Milan-based China Chamber of Commerce in Italy, acknowledges all the external factors influencing the cooperation between the two countries.

However, he said: "There is still a strong appetite among businesses and companies in both countries to expand the collaboration. As long as the economy heats up, politics will also improve."

One of the significant challenges to China-Italy cooperation is the increased scrutiny of Chinese investments by the West, making it difficult for Chinese companies to invest in certain strategically sensitive sectors.

Filippo Fasulo, co-head of the Geoeconomics Centre at the Italian Institute for International Political Studies, a think tank, suggested that cooperation between China and Italy needs to be approached "in a smart and strategic manner "in the current sensitive period. One possible approach could be to ensure that Italian governance remains in control, particularly in areas such as ports, he added.

Fasulo believes greenfield investments in specific fields, such as establishing battery companies in Italy, can help alleviate concerns and build trust between China and Italy.

"Such strategic investments with a strong local impact align with the original principles of the Belt and Road Initiative, emphasizing win-win cooperation and showing the local community that these investments bring opportunities," he said.

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