Italy has become the first G7 nation to endorse China’s Belt and Road Initiative in a move Rome hopes will bring investment to a stagnant domestic economy but which has rankled with its allies.
In a ceremony held on Saturday as part of a three-day state visit to Italy by Chinese president Xi Jinping, the Italian government signed a memorandum of understanding to support the investment programme.
Luigi Di Maio, deputy prime minister and leader of the anti-establishment Five Star party which makes up the largest bloc in Italy’s coalition government, signed the document with He Lifeng, chairman of China’s National Development and Reform Commission at the Villa Madama in Rome.
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