During the recent Italy-China forum, Mediobanca – Banca di Credito Finanziario S.p.A. (“Mediobanca”) and China Development Bank (“CDB”) signed a memorandum of understanding (the “Finance Cooperation Framework Agreement”), with a view to strengthening bilateral financial relations between the countries to support cross-border industrial investments by Italian and Chinese companies. CDB, the Chinese leading bank providing medium-/long-term financing, is indirectly controlled by the Chinese state. Its main mission is to support the macro-economic and social development of the country through:
- supporting development of infrastructure in the main Chinese industrial sectors;
- promoting international co-operation;
- helping Chinese companies to increase the international dimension of their businesses, and in any non-domestic investments that might arise as a result.