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But the meat seems to be coming. Bloomberg recently reported that a number of major Italian companies have been involved in the development of this agreement, from banks and energy to football clubs. Football clubs may not be strategic areas, but energy and banks certainly are. And Bloomberg has dropped big names: pipeline operator Snam SpA, engineering firm Ansaldo Energia SpA and major banks such as Intesa San Paolo and Unicredit. It would also be the fiftieth anniversary of Italy`s establishment of diplomatic relations with China, a step that the United States also addressed very critically at the time. ROME – Italy opened on Saturday to the demands and warnings of its Allies in the European Union and the United States by officially joining China`s new Silk Road at a signing ceremony with Chinese President Xi Jinping, a step that crystallized the changing geopolitical balances and the willingness of italy`s populist government to break with its traditional partners. Renewable Energy Cooperation In May 2017, the action plan signed by the two countries to strengthen cooperation between China and Italy in the economic and commercial, cultural, scientific and technological fields (2017-2020) has made cooperation in the field of sustainable energy and the environment one of their priority areas. Among the world`s largest economies, Italy leads the way in terms of carbon dioxide emissions intensity per unit of GDP. If China achieves the same carbon dioxide emissions as Italy, it can reduce its carbon dioxide emissions by 65%, or a total of 645 million tonnes per year, or about 18% of the world`s total carbon dioxide emissions. In 2014, Chinas State Grid participated in the Cassa Depositi e Prestiti Reti (an Italian state bank) which allowed State Grid to participate in Terna (an Italian power grid manager) and Snam ReteBas (an Italian natural gas operator). In 2000, the Chinese Ministry of environment (MEP) and the Italian Ministry of Environment, Land and Sea (IMELS) signed a joint declaration on cooperation in environmental protection and launched the Sino-Italian Cooperation Programme for Environmental Protection (SICP). The joint declaration reaffirms that the regional and global nature of environmental issues, the urgency of seeking sustainable and effective solutions through international cooperation and the importance of joint action between China and Italy.

, the Montreal Convention on the Protection of the Atmospheric Ozone Layer, the Convention on Biological Diversity, the United Nations Framework Convention on Climate Change and the Kyoto Protocol. The aim is to strengthen cooperation between the two countries in the areas of air pollution, water quality management, waste management, cleaner production, substitution of ozone-depleting substances, energy efficiency, sustainable agriculture and biodiversity. The agreement was signed following Salvini`s objections and is likely to lead to new Chinese investment and stronger trade between the two countries. Italy`s European allies are equally controversial. No liberal democracy can accept China`s values or disregard for human rights, but France and the European Commission have often been opened, in various joint statements, to cooperate with China in THE context of BIS projects. Critics fear the BIS will help China expand its reach by giving it control over critical technologies and infrastructure. But Rome has advanced its support for the programme, downplaying those concerns and dispelling the reluctance of its allies in the European Union. The country fell into recession at the end of 2018 and its public debt is one of the highest in the euro area. Italy`s populist government came to power in June 2018 with ambitious plans, but it had to hold it back after a standoff with the EU.