Editing Foreign relations of China (section)

===Recent initiatives===
{{Main|Belt and Road Initiative|List of projects of the Belt and Road Initiative}}
[[File:One-belt-one-road.svg|alt= Map of Asia, showing the OBOR initiative|thumb|upright=1.4|[[Belt and Road Initiative]] {{legend|red|[[China]]}}{{legend|orange|Members of the [[Asian Infrastructure Investment Bank]]}}{{legend|black| The six Belt and Road corridors}}{{legend|#0186D7|[[21st Century Maritime Silk Road|Maritime silk road]]}} China in red, Members of the [[Asian Infrastructure Investment Bank]] in orange, the six corridors in black
China Britain Business Council: One Belt One Road<ref>{{cite web|title=One Belt One Road: A role for UK companies in developing China's new initiative|publisher=China–Britain Business Council|access-date=22 March 2019|url=http://www.cbbc.org/cbbc/media/cbbc_media/One-Belt-One-Road-main-body.pdf|archive-url=https://web.archive.org/web/20170713011420/http://www.cbbc.org/cbbc/media/cbbc_media/One-Belt-One-Road-main-body.pdf|archive-date=13 July 2017|date=13 July 2017}}</ref>]]

As the [[First presidency of Donald Trump|Trump administration]] in the United States opened a trade and tariff war with China in 2017, China's response has been to set up its own multinational trading arrangements. In late March 2019, Xi Jinping moved forward with major trading deals with France and Italy. French President [[Emmanuel Macron]] and Xi Jinping signed a series of large-scale trade agreements that covers many sectors over a period of years. The centerpiece was a €30 billion purchase of airplanes from Airbus. The new trade agreement also covered French exports of chicken, a French-built offshore wind farm in China, and a Franco-Chinese cooperation fund, as well as co-financing between [[BNP Paribas]] and the [[Bank of China]]. Other plans include billions of euros to be spent on modernizing Chinese factories, as well as new ship building.<ref>Rym Momtaz, "Macron steals Trump's thunder with Chinese Airbus order: France lands €30B aviation deal with Beijing," [https://www.politico.eu/article/macron-steals-trumps-thunder-with-chinese-airbus-order/ ''POLITICO'' 25 March 2019] {{Webarchive|url=https://web.archive.org/web/20190326232439/https://www.politico.eu/article/macron-steals-trumps-thunder-with-chinese-airbus-order/ |date=26 March 2019 }}</ref> The same week Xi Jinping signed an infrastructure plan with Italian Prime Minister [[Giuseppe Conte]]. Italy became the first European power to join the [[Belt and Road Initiative]].<ref>{{Cite news|last=Legorano|first=Giovanni|date=23 March 2019|title=Italy Signs Up to China's Global Infrastructure Plan Despite U.S. Ire|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/italy-signs-up-to-chinas-global-infrastructure-plan-despite-u-s-ire-11553341408|access-date=15 October 2022|issn=0099-9660}}</ref>

As of fall 2023, Italy has started the process to exit the Belt and Road Initiative by not renewing the five-year Belt and Road Initiative Memorandum of Understanding (MOU)<ref name=":1" /> of 2019 at the end of 2023.<ref>{{Cite web|title=Why Is Italy Withdrawing From China's Belt and Road Initiative?|url=https://www.cfr.org/blog/why-italy-withdrawing-chinas-belt-and-road-initiative|access-date=30 October 2023|website=Council on Foreign Relations}}</ref><ref name=":0">{{Cite web|title=Italy Wants to Exit the Belt and Road – But Without Curbing Ties With China|url=https://thediplomat.com/2023/09/italy-wants-to-exit-the-belt-and-road-but-without-curbing-ties-with-china/|access-date=30 October 2023|website=thediplomat.com}}</ref> With anticipated Italy's notice not to renew, the MOU will officially end in March 2024.<ref name=":1">{{Cite web|title=MEMORANDUM OF UNDERSTANDING BETWEEN THE GOVERNMENT OF THE ITALIAN REPUBLIC AND THE GOVERNMENT OF THE PEOPLE'S REPUBLIC OF CHINA|url=https://www.governo.it/sites/governo.it/files/Memorandum_Italia-Cina_EN.pdf|access-date=29 October 2023|website=governo.it}}</ref> Eighty percent of the 193-member United Nations have participated in the Belt and Road Initiative, and the developed Western countries have largely stayed away.<ref name=":0" />