(Yicai Global) March 25 -- Chinese retail giant Suning Holdings Group will introduce 150 brands from the European fashion hub of Italy to Chinese mainland consumers this year as one of the first measures to link up the two nations' economic development.
Suning and the Italian Trade Agency penned a related framework cooperation agreement in Rome during President Xi Jinping's visit to the southern European country, an insider from the Nanjing-based company told Yicai Global. Xi signed a memorandum of understanding that cemented Italy as the first G7 country to join his massive investment plan of the Belt and Road.
Suning will partner with another government-backed organization of the Italian Trade Commission to build an online and offline platform for Italian small and medium-sized clothing firms to enter the Chinese market, according to the company insider.
Suning has morphed from a traditional mall operator into a major e-commerce retailer, while expanding its investment portfolio. One of its overseas purchases is Football Club Internazionale Milano, better known as Inter Milan.
Editor: Emmi Laine