Ambassador: More tourism and trade ties

Last year visas issued to tourist groups from Beijing increased by about 30 percent over the previous year, according to data from the Italian Embassy.

In addition to people-to-people exchanges, the Italian ambassador said it is also a good moment to invest in Italy.

"The costs are low, the country is safe and the investments are always very rewarding," he said. Despite the current challenging economic outlook, the fundamentals of the Italian economy are strong.

"Italy has a strong manufacturing sector, second in Europe only after Germany and the fifth in the world," Bradanini said.

Home to half of the world's luxury brands - including Dolce & Gabbana, Salvatore Ferragamo, Prada, Gucci and Versace - Italy leads the world in fashion and design.

But Bradanini said the country has more to offer in business investment.

He listed a number of fields in which Chinese companies could partner with Italian firms including robotics, medical equipment, aerospace, telecommunications and the automotive sector.

Italy has not historically been a magnet for cross-border investment. Bradanini recognized the mechanisms to invest in Italy can always be further optimized. But he said the perception of Italy has improved recently as they are in a campaign to attract more Chinese investors.

Last year, Italy attracted some 1.5 to 3 billion euros in investment from China, he said, with the inflow expected to grow further.

New Prime Minister Enrico Letta will probably pay an official visit to China in the autumn, Bradanini said, and he will then inaugurate a business forum to clarify misunderstandings in a bid to increase the size of Chinese investment in Italy.

With the ongoing financial crisis in Europe, Chinese investment is extremely important to job creation and providing needed capital.