Over 30 Italian and Chinese companies and personalities were granted the China Awards in Milan on Wednesday for their contributions to exchanges between the two countries.

Held by the Italy China Council Foundation (ICCF), the 18th edition of the annual China Awards honored Italian and Chinese businesses that stand out for contributing to cooperation and exchanges between the two countries.

Chinese Ambassador to Italy Jia Guide also attended the ceremony at the Leonardo Da Vinci Museum of Science and Technology, which drew some 250 representatives from the business and banking sectors, institutions and universities.

The China Awards are divided into six different categories, including value creators, top investors in China and top investors in Italy. Winners ranged from small firms to multinationals, including 29 Italian and Chinese companies and two individuals.

The event gives visibility to companies working to "tighten economic and trade ties between our two countries," ICCF President Mario Boselli underlined.

"Today, China is no longer just a relevant country, but also a platform for the development of our activities in Southeast Asia," he added.

Three special awards were also given to Italian and Chinese receivers in the fields of culture, law and sports, including the Chinese Olympic Ski Mountaineering team.

"This event is a specific landmark in the relationship between Italy and China, because rewarding companies from both countries for their cross-economic activity is tantamount to fostering development and harmony between our respective peoples," said Paolo Panerai, publisher and CEO of Class Editori, a Milan-based Italian media conglomerate and also China Awards' co-organizer.

The ceremony was followed by a charity dinner held in collaboration with the Politecnico University of Milan, aimed at funding scholarships to support students focused on activities that could "represent a bridge between Italy and China," the ICCF said.