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Yes, for the rest of the world... and yes and no for America.
As with most bicycle companies, Bianchi has had it's share of financial troubles throughout the years. Sometime in the late 1970s Bianchi of Italy sold the brand rights to Bianchi for the American market to an American company. For many years after, the American Bianchi produced an entirely separate line of bikes, most of which were made in the far east, while in Europe Bianchi continued to produce bikes in Milan.
As recently as a few years ago the Bianchi bikes of the rest of the world shared nothing in common with the American line up. However, 'as made in Italy' is part of the Bianchi Brand, and the Italian made road bikes began being sold in the USA to compliment those still being made in the far East (Cyclocross, Bianchi Pista etc.).
For the rest of the world, yes, most of the frames continue to be welded or fabricated in Milan, with the assembly happening there as well. Like Colnago, Bianchi has recently begun outsourcing its less expensive range of frames to be welded or fabricated in the far East, with only the initial assembly occurring in Milan. These are "welded in Taiwan" but "made in Italy" as a result.
Bianchi are one of the largest producers of Bicycles in Europe and the top maker in their homeland of Italy they do not exclusively cater for the top end Road cycle market and produce bikes of all types and price ranges including Touring bikes and bianchi mountain bikes. It is however for their Road Cycles that Bianchi are famed and they are still one of the most highly rated producers of racing bikes for professional and amateur cyclists their distinctive Celeste (Bianchi Green) colour has become synonymous with Road racing history. In recent years Bianchi have embraced the latest technologies and materials and as with all top end Road Cycle makers offer many of their high end bikes in light weight materials such as Carbon frames and Titanium frames as stated most of Bianchis Bikes are still made in Italy.
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