The relationship between China and Italy has a long history. In the 13th century, Marco Polo became the first European to visit the Far East. Historically, it has not been surprising that Italy became the first major Western country to participate in the Belt and Road.
In early March 2019, according to the Financial Times, Italy will formally support China’s “One Belt, One Road” initiative. Italy’s move has caused criticism from the United States, saying that Italy’s support for the Belt and Road will not bring sustained economic benefits and will damage Italy’s national image.
Michele Geraci, deputy minister of national economic development of Italy, told the Financial Times that Rome plans to sign a memorandum to support the Belt and Road projects, when he meets Chinese President Xi Jinping during his visit to Italy at the end of March.
The Belt and Road Initiative was first launched in 2013 by President Xi Jinping and has included a small number of European countries such as Portugal, Greece and Hungary. It naturally caused hostility in the EU and the US enough to worry that it is a tool to expand China’s influence. Therefore, the news that Italy is about to sign a memorandum reached an understanding with Beijing at the end of March, indicating a major breakthrough with traditional allies.
Funds related to “Belt and Road”
Invesco Belt and Road Bond Fund A MDis HKD
Invesco Belt and Road Bond Fund A Acc USD
Invesco Belt and Road Bond Fund A MDis USD
BOCHK All Weather Belt and Road Bond Fund A2 MDis HKD
BOCHK All Weather Belt and Road Bond Fund A1 MDis USD
BOCHK All Weather Belt and Road Bond Fund A8 MDis RMB (Hedged)
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