"Milan fashion and design need to further expand its presence in overseas markets, while Shanghai is home to a large number of fans of Milan brands. And for Shanghai, Milan offers much to learn, such as its integration of the design, manufacturing and service industries within the fashion and design sector," said Bian.

"With exchanges in economic development and culture, both Shanghai and Milan will be more flourishing and achieve a better future," he added.

"For Italian entrepreneurs, Shanghai has shown a more welcoming attitude. So, it continues to be an important gateway to China," said Boselli.