Italy, Europe’s third-largest economy is looking to Chinese investors to save their ailing economy with the launch of a new portal website VendereAiCinesi.it, meaning literally "sell to the Chinese".
There are currently 18,000 items listed on the website including coffee shops, ice cream stores, cars and property.
Italy’s economy has suffered extensive damage since the financial crisis, bringing about a decline in house prices and record unemployment of 12.7%.
Italy has a rising population of Chinese residents in their country introducing flourishing businesses across varying sectors, making them a key source of economic growth.
The number of new Chinese companies rose by 6.1% between 2012 and 2013 while Italian firms posted a 1.6% decline in growth. Growth in China’s foreign direct investment (FDI) has resulted in there being more foreign firms than domestic concerns in Italy, including 66,050 Chinese companies.
The highest proportion of Chinese companies operating in Italy are trading concerns with 24,050 companies followed by 18,200 manufacturers and 13,700 hotels, restaurants and bars.
The Italian media is fully behind the push to increase Chinese business interests in their country recognising that they have a better ability to raise finance through family members than Italians, avoiding more stress to Italy’s fragile banking system.
Property owners in Italy are also hoping to appeal to increasing numbers of Chinese buyers, looking for a piece of the action from an investor-base that rose to €4.3bn during the first six months of 2014, an increase of 17% over 2013.
Surprisingly, Italy has become the second largest destination for Chinese investments in 2014, with corporate merger and acquisition deals between the two countries reaching €2.8bn and set for continued growth.
VendereAiCinesi.it, which has been trading for just over a year provides Italians with a direct gateway to Chinese buyers, allowing them to present and potentially offload assets to a principally cash-buying investor network.
Article by +Roxanne James on behalf of Propertyshowrooms.com
Source: Property show rooms