Nearly 100 members of the Chinese and Italian political and business communities joined a symposium both remotely and in person in Turin, Italy, on Tuesday, focusing on solutions for the digital transformation of car parts manufacturing.

The event was a collaborative effort between the Chinese Chamber of Commerce in Italy, Baomarc Automotive Solutions S.p.A., and Baosteel Europe R&D Center. Baosteel, also known as Baoshan Iron & Steel Co., Ltd, is China's largest listed steelmaker and parent company of the Turin-based car parts supplier Baomarc.

Leaders and representatives from automotive, materials manufacturing, digital transformation, research, and consulting sectors delivered 14 presentations that discussed the possibility of transforming an operating production line into a demonstration plant to boost industrial chain cooperation.

Geng Xiewei, commercial counselor at China's Consulate-General in Milan, stated that Sino-Italian cooperation could drive the smart and green transition within the evolving automotive industry, and underscored the need for both low-emission vehicles and a decarbonized production process for car components.

Geng stated that both China and Italy are significant players in the automotive market. Italy, traditionally known for iconic brands like Ferrari and Lamborghini, holds an established position, while Chinese electric cars are emerging to compete with some of the world's leading auto giants.

Geng emphasized that the economic engagement between the two countries has consistently served as a solid foundation for mutual prosperity. This is evidenced by the fact that the total trade volume between the two nations has reached a record high for the third consecutive year.

According to China's Ministry of Foreign Affairs, the bilateral trade volume between China and Italy totaled $77.9 billion in 2022, up 5.4 percent year-on-year. China remains Italy's largest trading partner in Asia, and Italy is China's fourth-largest trading partner in the European Union.

The Italian National Institute of Statistics reported a surge in Italian exports to China in the first quarter of 2023, totaling 7.1 billion euros ($7.8 billion), marking a 52 percent year-on-year increase.

Geng called for strengthening of Sino-Italian ties in anticipation of the 20th anniversary of the China-Italy Comprehensive Strategic Partnership next year.

Wu Jun, the dean of the Central Research Institute at China Baowu Steel Group and the deputy general manager of Baosteel, indicated that his company, currently the world's largest iron and steel producer measured by output, is committed to working towards a shared future for mankind.

Baowu is an integrated company formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation.

Wu stated that by establishing the Baosteel Europe R&D Center, they aim to forge close collaborations with European universities, research institutes, and enterprises to collectively achieve the net zero carbon goal as swiftly as possible.

Zhuang Jianjun, chairman of Baomarc Automotive Solutions S.p.A., said establishing an actual running project, which transforms an existing production line into a collaborative demonstration factory, is challenging but forward-looking, and can only be realized with joint efforts made by all involved stakeholders.

Fan Xianwei, secretary-general of the Chinese Chamber of Commerce in Italy, said he hoped that this vision could be achieved through sharing, discussion and cooperation.

The chamber will also continue to serve as a platform for fostering economic exchanges between Chinese and Italian businesses, Fan added.