Seven technology transfer agreements were signed at the 5th China Italy Innovation Forum, held Thursday in Milan in the presence of Premier Li Keqiang and Italian Prime Minister Matteo Ranzi.

Stefania Giannini, Italian minister of education, universities and research, told China Daily that she is encouraged by the closer cooperation between her country and China in technological development.

She said that of particular significance among the agreements signed at the forum were the transfer of technology and patents between BGI of China, Viscolube of Italy and China Recycling Development Co Ltd. All the agreements signed at the Forum were arranged by the China-Italy Technology Transfer Center.

"They are two-way technology transfers," Giannini said. Meanwhile, "we will be sending more Italian students to study in China and invite more Chinese students to come to Italy," she said.

Li Ning, CEO of BGI-Europe, told China Daily that Europe has excellent facilities and talented people, and his company will seek greater technology transfer opportunities that will benefit both countries.

The agreement between Viscolube and China Recycling Development is for the development of a new oil refinery plant in Sichuan province.

Viscolube owns and operates two refineries that treat a total of 170.000 metric tons of waste oil a year. Viscolube said that its refineries are making significant contributions to environmental protection through the recycling of hazardous wastes such as used lubricating oil.

Viscolube CEO Antonio Lazzarinetti said the technology of his company is among the most advanced in the world for meeting the most stringent environmental standards. He said that his company is ready to seize the opportunity provided by China's renewed commitment to environmental protection.

(China Daily 10/17/2014 page3)