月度归档 2024年5月17日

In 2017, Volvo brought S90 and XC60 products, which have been the main sales force of Volvo for five years. Although it is often necessary to attract users with huge discounts, in terms of sales volume, relying on these two main models, Volvo’s performance in the past five years can be described as brilliant. However, as the product strength became more and more old, Volvo’s sales began to decline, and it was time for Volvo to innovate.

Looking forward to the stars and the moon, Volvo finally released a flagship pure electric SUV—— some time ago. However, in its report, it was impressively written: "It is planned to be produced and sold in the United States in 2023 and localized in China in 2024." In other words, Volvo, whose current main force has already appeared tired, has released new electric products, but it will take two years to meet consumers. Some insiders believe that the pace of Volvo is still so slow in the new energy era, and it is afraid of being abandoned by the market.

At present, if we only look at the sales data of Volvo, there is something gratifying, because in this market where the epidemic situation is repeated and traditional luxury cars and fuel vehicles are eroded by new energy sources as a whole, compared with those friends who are prone to decline by more than ten or twenty points, the cumulative sales of Volvo in the first 11 months of this year has declined by 7.4%.

But Volvo’s real pain lies not in its sales volume, but in its price and brand image: as early as two or three years ago, Mercedes-Benz and Lexus were still increasing their prices, but XC60 was already in a state of "fracture price", with an average discount of 60,000 to 70,000 yuan, and S90 in some areas could even be discounted by 100,000 yuan. On the surface, Volvo’s guide price can still keep up with the first-line luxury, but in fact its price system has almost slipped to the point of competing with joint ventures for the market.

Judging from the financial report, as early as 2019, Volvo’s operating profit in the first half of the year fell by 30%; In the second half of the year, the growth rate of 0.8% was barely maintained through layoffs and other means. In the first half of this year, Volvo’s revenue alone fell by 14.1%; The net income has been completely negative, with a negative growth of SEK 1.171 billion, which dropped by 134.5%. During this period, although Volvo has set foot in PHEV, the actual performance of T8 power is not inferior to that of BBA, but Volvo’s popularity in the hybrid world is not as high as its "Raytheon Hammer" headlights. At this point, Volvo is in urgent need of an innovation.

Fortunately, in the era of electrification, BBA and Lexus, the top four traditional luxury markets, have not come up with strong gestures and products, and consumers no longer give face to their brands and popularity. This can be said to be an excellent opportunity for other so-called "second-line luxury" to break through.

Volvo’s attitude of transforming into electrification is also quite firm: first, it transferred the main shares of Aurobay to Geely, and at the same time announced that it would stop production of pure fuel vehicles in 2025, which announced that it officially withdrew from the research and development of internal combustion engines and focused on electrification. However, the flagship electric technology exhibited by EX90, as well as the latest design, technology and concept, cannot help worrying about Volvo’s future.

First of all, this car was built on the SPA2 platform. Although this is an upgraded platform of SPA, SPA is an oil-electricity sharing platform that has never exploded and has never had a well-known black technology. Even the initiator of Volvo’s big price reduction came from this platform. The upgraded SPA2 is also not surprising: the maximum battery life of the EX90 is only 600 kilometers, and the minimum is only 467 kilometers (competing products can generally be 50-100 kilometers higher); The 8155 chip (which is the mainstream now, and will certainly be compared in two years) used for car engines, and the driving assistance computing power is 250TOPS (now many domestic flagships have a computing power of over 1,000, and most high-end models are in the range of 407Ps, 770N·m, 503Ps and 910N·m), but this is also compared with other traditional luxury brands.

In addition to the book parameters, the face value of EX90 also gives people a feeling of "XC90 pure electric version" (of course, this is indeed shared by oil and electricity platforms). Not only is the appearance lacking freshness, but the simple interior is also difficult to remind people of the word luxury. In addition to these most important information, EX90 is left with some "flowers": for example, its seat is made of environmentally friendly materials made of PET plastic bottles and resin; For example, the car will be equipped with sensors to detect whether children or pets are left behind; It can even charge in reverse, and use its cruising range of up to 600 kilometers to "feed back" the power grid or other vehicles.

As for the product strength of EX90, to be honest, even if it goes on the market at the end of 2022 and sets a price similar to that of XC90 (starting at 500,000), compared with its competitors, it is in a state where there are basically no advantages but many shortcomings. Compared with the new cars produced in recent years, the disadvantage of EX90 is even greater.

To give a few simple examples, the 11.4 million version of Aouita can have a battery life of 680 kilometers, and the entry version has a horsepower of 578Ps; Tucki G9 not only reached 700+, but also gave 508TOPS computing power; And those extended-range players who have broken thousands of battery life are even more annoying. In addition, technologies such as in-car life detection and reverse charging have already been seen in the domestic camp. The strength of EX90, which is average in book and not new in technology, is dangerous even in the 400,000-level market. But EX90 not only has a high probability that the price will be higher than XC90, but also will not be made in China until two years later … Such a performance certainly makes people uninterested.

More importantly, as a flagship, EX90 not only has low expectations, but also makes people’s thoughts on Volvo’s new products drop to freezing point. Is the future Volvo electric car the appearance of this current model after changing from oil to electricity, with a simple vertical screen interior? Compared with the extreme krypton that has blossomed in the high-end market, is Volvo’s future performance and battery life just like this? For the increasingly important intelligent travel, is Volvo such a mentality of running behind others? If so, in the new energy era, let alone Volvo’s luxury status, it will lack characteristics and competitiveness even if it is downgraded to an ordinary brand.

It must be said that Volvo, which is slow in electrification and weak in strength, not only faces being abandoned by the market, but also seems to be at arm’s length with Geely Group. Two years ago, the two companies announced that they would really merge into a group company, but the result after that was not only that the merger failed, but also that their cooperation in the power field came to an end. During this period, not only did Krypton successfully rush into the mid-to-high-end electric vehicle market of 300,000-400,000 grades, but also the geometric new energy, which is the main entry-level market, became the enemy of Ai ‘an. Geely even used the vast structure of SEA to help smart jump from the 100,000-grade fuel market to the 200,000-grade pure electric vehicle market, and the monthly sales volume of 1,000+was also higher than before.

On the other hand, Volvo is determined to realize electrification as soon as possible, but its real strength is still in the stage of plug-in+oil-for-electricity exchange. No matter whether SPA2 compares with the vast architecture of SEA or EX90 competes with Krypton 001, Geely can’t pretend to be a "teacher" when it comes to electrification, but it needs to ask this "senior" some difficult problems about the China market. The reason why the merger of the two companies broke down is probably because Volvo, whose car business was only $1.8 billion at the beginning, has an IPO valuation of nearly $30 billion after ten years of growth, which makes it have the idea of going solo, and perhaps makes it offer a price that even Geely, a "diamond VIP" in the acquisition industry, can’t bear in the merger negotiation.

In fact, Volvo needs Geely more now than it did 12 years ago. Not only because of the huge capital investment required by electrification technology, but also because of Geely’s achievements and strength in this field. For example, in the embarrassing period when Volvo’s sales and profits are both declining, Geely’s vast SEA architecture can help it tide over the difficulties.

However, these two brands in the same group began to "play their own games" in the field of electrification, which needs to concentrate on doing big things: they are extremely separated and independent; Volvo has never been able to use the vast structure of SEA. After 12 years, the couple finally began to sleep in separate rooms. Judging from the situation, Volvo’s soaring valuation is only temporary, and Geely, which has already taken off geometrically, has grasped the future. If we really want to part ways, Volvo may be the one abandoned by superior resources.

Summary:Among many luxury brands, Volvo never shows its edge, and rarely shows its ambition to surpass anyone. From the cost performance of products to the main concepts of safety and environmental protection, it even has many unique places. But after these years, Volvo’s main ideas have not been further recognized by domestic consumers. The slow pace of updating has led to a brand that cannot catch up with the high-end market at the price level and must be discounted in the main market. Faced with this situation, Volvo’s determination to cross the rubicon and "fully and quickly" electrify is worthy of recognition, but its achievements are obviously difficult to reverse the current decline. What’s more, the localization time of EX90 has been set in 2024, and it and Geely have begun to "drift away" in technology … So, Volvo may once again usher in a cold winter.

　　[Pacific Auto] On this year’s Science and Technology Day, three key messages were announced, namely GARCIA’s unmanned pure vision autopilot, GAC’s all-solid-state battery, the new intelligent light architecture iGLCA, and the E9 electric welfare version went offline. The first two items will be installed on the model in 2026.

　　No-map intelligent driving is the place that all car companies want to break through, while the pure vision scheme is to abandon sensors such as laser radar and only identify obstacles around the vehicle through the camera, which provides reference for vehicle control decision-making for intelligent driving system. On Guangzhou Automobile Science and Technology Day in 2024, Guangzhou Automobile officially released NDA, a map-free city that does not rely on high-precision maps. According to the official, Guangzhou Automobile’s map-free NDA can be opened regardless of the urban main roads, expressways, narrow streets, barren hills and wild roads and country roads, as long as there is no map NDA in the area covered by navigation.

　　This system has basically realized the function of high-speed and urban NDA in Guangzhou’s core urban area through the ability to accurately understand complex traffic roads, the ability to identify traffic lights and the ability to deal with complex and changeable scenes. It is reported that after the official release of the city map-free NDA today, it will be launched by the new Haobo HT in the near future, and strive to achieve national coverage in the second half of the year.

　　Two automatic parking modes were demonstrated on the spot, one of which was a vertical parking space facing the broken road and close to the broken road. The driver can complete the whole reversing action with his hands without taking over as long as he chooses the target parking space in the car. In this process, the overall performance is like an old driver. He will first find a spacious place to transfer the body, and then park the car with about 2-3 hands, and the wheels on both sides will not press the edge of the mechanical parking space.

　　There is also a kind of remote parking that people leave the car near the mechanical parking space, only to see that Haoplatinum GT still stops in the parking space very smoothly, and the overall performance is the same as that of the old driver.

　　On-site experience of a Haobo GT model test car equipped with this map-free intelligent driving function, to sum up, it is to face complex road conditions, such as full cars on both sides, electric cars in the same direction or retrograde, cars in the same direction occupying roads and borrowing opposite lanes, and other systems can be handled perfectly without manual takeover. The daily operations such as stopping, starting and turning automatically are close to the performance of old drivers.

The Tiggo 8 series is undoubtedly the most important model in Chery’s product matrix, which can basically contribute more than 10,000 vehicles to the brand every month. Under Chery’s big single product strategy, the current Tiggo 8 series has formed a high and low camp of Tiggo 8PLUS+ Tiggo 8, covering the price range of 80,000-160,000. Chery has been continuously tapping its market potential for this hot-selling product. Not long ago, it launched the Tiggo 8 Kunpeng version and added 2.0T power. The Tiggo 8PLUS Kunpeng version will also be launched tonight.

The modeling design of the Tiggo 8PLUS Kunpeng Edition is consistent with the original 1.5T and 1.6T series, but it is different from the Tiggo 8. The interior of the polygonal grille on the front of the car is chrome-plated in star lattice, and two groups of L-shaped light sources are used in the narrow headlights on both sides, which is more recognizable after lighting, and the whole front face is relatively more refined than the original design.

The side is not big, the shape is stable and atmospheric, and the two-color wheel hub highlights the movement. The rear part doesn’t use penetrating taillights like the Tiggo 8, but the black and white decoration inside is also quite individual, and a large number of horizontal lines also outline a strong level of big mouth. It is worth mentioning that the car uses a bilateral four-way exhaust hole design, which indicates good performance.

The interior uses the popular digital cockpit style. The central control panel and the instrument panel form a double screen design. There is also a touch control panel in front of the bar. The three screens create a strong scientific and technological atmosphere, and a small number of physical buttons are set in the car, which is convenient for quick operation.

In the configuration part, the Tiggo 8PLUS Kunpeng version will come standard with front and rear airbags, panoramic sunroof, induction electric trunk, dual 12.3-inch screen, 360-degree panoramic image, voice recognition system, navigation, car networking, OTA upgrade and other functions. In addition to the heroic version, lane departure warning, lane keeping assistance, road traffic sign recognition, full-speed adaptive cruise, active braking and built-in driving recorder will also be equipped.

The dimensions, length, width and height of the new car are 4722/1860/1745mm and the wheelbase is 2710mm, which is quite spacious for a five-seat car. The trunk volume can reach 889L in normal state, and it is 1930L in the back row.

The Kunpeng version uses a 2.0TGDI turbocharged engine with a maximum horsepower of 254Ps and a peak torque of 390N·m, which has appeared on many Chery models. It is reported that the car can achieve a zero-speed acceleration of 7.3S, and the vehicle will also be equipped with a new generation of electronically controlled intelligent four-wheel drive system, with various driving modes such as economy, sports, snow, mud and off-road, which can adapt to more different road conditions.

The Kunpeng version will be more expensive than the cash price, and the current pre-sale price is 1419-169900 yuan, but the richer configuration and stronger power performance are undoubtedly very worthwhile. At present, the Tiggo 8 series has become the sales force of the explosive family in the market, and the arrival of the Kunpeng version has further improved the product layout, which is believed to contribute to the sales growth.

　　National Convention and Exhibition Center (Shanghai) West Entrance. (Xinhua News Agency)

　　Cambodia shows "development and opportunity"

　　The shape design of the Cambodia National Pavilion originated from the Royal Palace in Cambodia, focusing on the traditional culture and special commodities of the Khmer nation. Economic Daily-China Economic Net reporter Zhang Bao for the picture

　　The National Pavilion of Cambodia has strong national cultural characteristics, and the whole pavilion "copied" pictures of the Royal Palace of Cambodia, Angkor Wat and other famous temples in Cambodia. On the big screen in the museum, there is a promotional film on Cambodia’s trade, economy and tourism development.

　　"Cambodia hopes to show traditional Khmer culture and special commodities, introduce the investment, trade and tourism environment, and invite countries to share cooperation opportunities." According to China’s embassy in Cambodia, business counselor Wu Guoquan, the first China International Import Expo(CIIE) brought Cambodia a full harvest, and China-Cambodia economic and trade cooperation was tangible and fruitful. In this year’s China International Import Expo(CIIE), Cambodian people from all walks of life are more enthusiastic. The special products such as cassava, pepper, cashew nuts, palm sugar, fish sauce, coffee and handicrafts displayed in the museum have attracted many visitors to buy them.

　　In addition to specialty products, Cambodia focused on Cambodia’s trade and economy, Khmer culture, tourism and investment projects this year. A poster attracted the reporter’s attention. Under the words "Development and Opportunity", there was a picture of a vast blue sea with pleasant scenery. Gao Chunhui, director of the operation center of Tianjin Youlian Investment Development Group Co., Ltd., told the reporter that the group has been in Cambodia for 12 years. The Cambodia-China Comprehensive Investment Development Experimental Zone and Cambodia Qixinghai Tourism and Holiday Zone written on the poster are one of the 11 key cooperation projects for China-Cambodia capacity investment jointly signed by China and Cambodia in October 2016.

　　Gao Chunhui said that the group hopes to use China International Import Expo(CIIE) to attract foreign partners to invest in Cambodia. Cambodia has the best coastline, precious mangroves, good business environment, friendly people and sufficient labor force. "Over the past three days, many companies have come to dock and are interested in investing in tourism and other industries in Cambodia. We feel very rewarding. Later, we will continue to dock, hoping that they will visit Cambodia and share ‘ Development and opportunity ’ 。” (Economic Daily-China Economic Net reporter Shen Zezhen Zhang Bao)

　　Jamaican eagerly awaits China’s investment.

　　Visitors taste Jamaica’s Blue Mountain Coffee. Economic Daily-China Economic Net reporter Zhou Mingyang photo

　　Jamaican was one of the 15 guest countries in the second China International Import Expo(CIIE) and participated in China International Import Expo(CIIE) for the second time. The Jamaican National Pavilion shows its achievements in agriculture, tourism, mining, logistics and other fields to consumers in China, expecting to reach deeper and wider cooperation with China.

　　Jamaica is located in the western part of the Caribbean, with superior geographical position, rich natural resources and mineral resources, good climatic conditions, and the port with the highest throughput in the Caribbean. This year, the theme of the Jamaica Pavilion is "Doing business in Jamaica", and "Investment, trade and connectivity" are the three key words of Jamaica’s participation. I hope that by participating in China International Import Expo(CIIE), more people will know about Jamaica’s business environment and investment environment and invest in Jamaica.

　　The front of the "bar" in the Jamaica Pavilion is very lively, and the audience waiting to taste Jamaica’s blue mountain coffee and rum lined up in a long line. The whole Jamaica Pavilion is full of attractive coffee and wine. Ni Kaolian, general manager of Nijie Business Consulting (Shanghai) Co., Ltd. is based in Shanghai and is responsible for investment consulting, product procurement, tourism information consulting and cultural exchange between China and Jamaica. She told reporters that participating in the first China International Import Expo(CIIE) made more people begin to understand and pay attention to Jamaica.

　　This year’s China International Import Expo(CIIE), Jamaica brought many high-quality products, such as lobster, coffee, tea, rum, sauces and so on, which are popular among China consumers. "Frozen lobsters from Jamaica can already be bought in China. This year, we will launch a fresh lobster business, and China consumers can taste fresher Jamaican lobsters."

　　Tourism is the key project promoted by Jamaica this time. Jamaica has beautiful beaches. Visitors can experience surfing, rowing, diving and other marine projects, and eat delicious seafood and exquisite dishes. Visitors can also experience "farmhouse music", be a "Caribbean farmer", harvest sugar cane like locals, make rum by themselves, and even ride horses in the sea. More importantly, Jamaica’s culture is diverse. Being in Jamaica, you can appreciate the integrated culture of the whole Caribbean.

　　Ni Kaolian said that Jamaica has vast farmland, developed agricultural and processing infrastructure, abundant low-cost labor and huge market opportunities. With the expansion of Panama Canal, Jamaica’s logistics industry has developed rapidly. "Jamaica is a good place to do business. Welcome more China friends to visit Jamaica!" (Economic Daily-China Economic Net reporter Zhou Mingyang)

　　India expands bigger export market

　　The India Pavilion displays the development achievements in the fields of service trade, science and technology in India. Economic Daily-China Economic Net reporter Zhu Lin photo

　　Stepping into the National Pavilion of India, the colors dominated by white and blue give people a fresh and quiet feeling. The person in charge told the reporter that China people are familiar with India’s long history, rich culture, special cuisine and colorful art, but what they want to show at the China International Import Expo(CIIE) is an India that is changing with each passing day and full of infinite possibilities.

　　"Indian vaccines are exported to 150 countries and regions around the world; India has become a global small car manufacturing center; India ranks fifth in adopting automation technology on a large scale … …” Indian Minister of Commerce Anup Wadhawan said in a message to China International Import Expo(CIIE) that China International Import Expo(CIIE) provides a unique opportunity for Indian exporters to explore new opportunities and further expand their trade footprint and market share.

　　In the museum, India displayed its development achievements in service trade, tourism, culture, food and other major industries and science and technology. Sharad Kumar Saraf, President of the Federation of Indian Export Organizations, said that China International Import Expo(CIIE) is an ideal platform for inviting China enterprises to invest in India.

　　"By 2028, India will become the third largest economy in the world" — — This is a propaganda slogan in the India Pavilion. The head of the India Pavilion said that it is becoming more and more convenient for Indian goods to be exported to China. In the fields of pharmaceuticals, information technology and agricultural products, which have global influence and competitive advantages, there will be more room for cooperation between India and China in the future.

　　The head of India National Agricultural Cooperative Marketing Federation Co., Ltd. said that China’s continuous opening-up and the implementation of various convenient measures to attract foreign enterprises to enter China provided a very good opportunity for Indian enterprises to enter the China market.

　　In the India Pavilion, an exhibitor from Guangxi stopped for a long time at the booth where spices were placed and studied all kinds of spices with great interest. "India is famous for its spices, some of which are not available in China. Communicate with Indian exhibitors on the spot and learn more market information, which is very informative. We can cooperate and complement Indian companies. " (Economic Daily-China Economic Net reporter Zhu Lin)

　　Russian "hard core" exhibits become "online celebrity"

　　The Russian National Pavilion attracted many visitors. Economic Daily-China Economic Net reporter Gao Xinggui photo

　　The second China International Import Expo(CIIE) Russian National Pavilion was bursting with popularity, and Russia’s rich cultural heritage and advanced scientific and technological achievements gathered in the pavilion, making people dizzying.

　　A "Golden Russia" limousine spliced in black and white has become a well-deserved "online celebrity" in the exhibition hall, and an endless stream of spectators came to watch the "punching in", many of whom came to find out. In addition to luxury cars, there are blue and white new medium-sized narrow-body passenger planes, red and white firefighting helicopters, and blue-green world-leading icebreaker & HELIP; … All kinds of "hard core" equipment are amazing.

　　The Russian National Pavilion also highlights areas where China and Russia are cooperating or have promising cooperation prospects, including aviation and shipbuilding, agriculture and energy machinery manufacturing, digital economy, intelligent robots and jewelry technology. Russian companies participating in the exhibition cover meat and poultry, honey and grain, dairy products, candy and other industries.

　　"Russian companies are very interested in China International Import Expo(CIIE). Our primary goal is to clarify the variety and scope of goods that Russian manufacturers are going to export to China, maintain the enthusiasm of those industries that already have good export potential, establish the supply of high-tech products, and focus on promoting export areas directly related to modern trends and technologies. " Alexei Kozevnikov, Senior Vice President of Russian Export Center, said.

　　"The market docking area between the two countries is packed and very popular." Jiang Ding, vice president of Guangdong Imported Food Association, said that trade service is a bridge for Chinese and Russian enterprises to understand each other, which helps Russian enterprises to know more about China’s economic and trade policies and market consumption characteristics, improve their products in a targeted way, and at the same time, let China buyers know more about Russian enterprises’ product characteristics and make more rational and effective choices in the huge foreign market.

　　Fana Gaulias Wine Company is one of the three major Russian wine producers. Misa, the company’s senior export general manager, told reporters that the first China International Import Expo(CIIE) has improved the brand awareness of the company. At present, China has the largest share in the company’s export market, and the future goal is to increase the sales volume of China by five times.

　　This year marks the 70th anniversary of the establishment of diplomatic relations between China and Russia. Alexei Gruzdev, Russian Deputy Minister of Industry and Trade, said that Russian-Chinese relations are currently in an all-round positive development stage, the economic and trade exchanges between the two countries are increasingly stable and expanding, the cooperation projects between the two sides are increasing year by year, and the trade is increasingly diversified. Talking about the goal that the bilateral trade volume between Russia and China has exceeded 200 billion US dollars, Gruzdev said that promoting the implementation of this goal will help promote the comprehensive strategic partnership of cooperation between the two countries in the new era. (Economic Daily-China Economic Net reporter Qu Lihua)

　　Italy promotes technology and design

　　The Leaning Tower of Pisa, the Colosseum of ancient Rome, the Milan Church and the Plaza Saint Kyle, the "most beautiful living room" in Europe, are the four famous Italian pavilions, which make many visitors stop to visit and feel different Italian tastes.

　　"Integrating the most representative architectural elements in the Italian urban landscape into the exhibition area by modern and scientific means not only shows the profound Millennium meaning of the Renaissance country, but also simply and clearly conveys the rich connotation of the long-term friendly relationship between Italy and China, as well as the hopes and demands for the future, and enhances the audience’s sense of experience. This is the original design intention of the Italian Pavilion." Ma Shizhen, chief representative of the Shanghai Representative Office of the Italian Foreign Trade Commission, said.

　　The theme of this year’s Italy Pavilion is "Italian Technology and Design along the New Silk Road", and its exhibits are jointly selected by the Italian Industrial Design Association and the Italian National Fashion Association, including innovative contents created by young designers for the fashion industry, elaborate promotion videos, interactive exhibits introduction, etc., which fully display Italy’s high-tech products and advanced design concepts.

　　On the first floor of the exhibition hall, there is a wide wooden bench, which attracts many spectators to sit down. The staff told the reporter that the chair looks simple and natural, but it can be used as a charging pile for electric cars, or for charging mobile phones and computers. The designer’s clever mind is hidden in the inconspicuous details.

　　The Italy Pavilion has also specially produced an application program. The full-motion video generated by 360-degree shooting technology enables visitors to visit four Italian cities in a virtual environment through realistic images, and to have an overview of the unique historical imprint and cultural precipitation.

　　According to reports, the Italian delegation covers all fields, with more exhibitors in consumer goods, agribusiness and technical departments. Exhibitors include not only well-known companies such as Maserati, Alfa Romeo, Ferriero, Iveco and Leonard, but also many Italian small and medium-sized enterprises that are not well-known in China.

　　Geographically speaking, although China and Italy are far away, the ancient Silk Road connects China and ancient Rome. Italian President Mattarella once said that this is a close link between Italy and China. In March 2019, Italy and China signed a memorandum of understanding on the Belt and Road Initiative, becoming the first G7 member to join the Belt and Road Initiative. At present, Italy has become China’s fifth largest trading partner in the EU, while China is Italy’s largest trading partner in Asia.

　　"2020 will mark the 50th anniversary of the establishment of diplomatic relations between China and Italy." Italian Minister of Foreign Affairs and International Cooperation Luigi Di Mayo said that Italy is willing to play an active role in promoting the development of EU-China relations, and will work with China to strengthen cultural exchanges and consolidate and deepen friendship and cooperation between the two countries. (Economic Daily-China Economic Net reporter Yang Zhongyang)