Italian officials are turning to China in the hopes that the cash-rich country will bail out Rome by making "significant" purchases of Italian bonds and investing in strategic companies, the Financial Times reported on its website Monday.
A delegation led by the chairman of China Investment Corp., one of the world's largest sovereign wealth funds, visited Italy last week to meet with government officials, including Finance Minister Giulio Tremonti, the newspaper said.
The Chinese delegation's visit follows a similar trip to China by Italian officials two weeks ago, according to the FT. Further negotiations between the two sides are expected to take place soon, the newspaper said.
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