China's factory output and retail sales growth slowed sharply and missed expectations in July, as new COVID-19 outbreaks and floods disrupted business operations, adding to signs the economic recovery is losing momentum.

In recent years, Italy and China have maintained a strong economic relationship despite Italy’s shift away from the Belt and Road Initiative (BRI). Prime Minister Giorgia Meloni’s visit to Beijing highlighted Italy’s intention to continue fostering cooperation, with a focus on high-value sectors and enhancing trade.