On March 23, 2019, under the joint testimony of President Xi Jinping and Italian Prime Minister Contre, Fang Jin, the Deputy Secretary-General of China Development Research Foundation, and Wang Zhenyao, the Dean of Global Philanthropy Institute, and Ouyang Qiao, the Director of China Research Center of Turin University, Italy, formally established a memorandum of exchange and cooperation on the "long-term cooperation mechanism of Sino-Italian Philanthropy Forum" to jointly promote the Sino-Italian philanthropy field. Consensus has been reached on future cooperation. This is also the highest level of philanthropic exchanges between the two countries in history.

During President Xi's visit, the first Sino-Italian Philanthropy Forum--East and West Leaders Summit, was successfully held and are highly valued by the governments of the two country .

Romano Prodi, the Co-chairman of the Forum, the former Prime Minister of Italy and the former President of EU, Ma Weihua, the Chairman of the Global Philanthropy Institute and former President of China Merchants Bank, both were invited to a state banquet.

Italian President Matarella said at the banquet: "a series of government and trade agreements to be signed such as the Sino-Italian cultural cooperation mechanism, the Sino-Italian entrepreneur committee, the Sino-Italian third party market cooperation forum, the recently established Sino-Italian philanthropy forum fully demonstrate the strong interest of the two countries in developing cooperation relations."

The Sino-Italian Philanthropy Forum - East and West Leaders Summit is an important move between China and Italy at the level of cultural exchanges, which aims to respond positively to the national " the Belt and the Road" initiative with philanthropy as the starting point, promote non-governmental exchanges and learning between China and Italy, and establish long-term friendly and cooperative relations between the two countries in the field of philanthropy.

The summit will also rely on the platform of the East-West Philanthropy Forum to expand new areas of philanthropy cooperation between East and West. 

The East and West Philanthropy Forum is a philanthropy project supported and participated by Lao Niu Foundation for a long time, which plays an active role in promoting the exchange and cooperation between the East and West philanthropy cultures.