China-Israel Business News

14 February 2018 - China's Ogawa sets up Israel investment fund. Chinese health and quality of life company Ogawa has founded a $10 million fund for investing in health and quality of life products, with a focus on investments in Israel. The fund was established through Comfort Group, a Hong Kong-based subsidiary of Ogawa, in cooperation with Chinese investment group RJ Group. Ogawa is also planning on establishing an innovation center in Israel. Full article

13 February 2018 - Peking University Medical working with top Israeli companies in the name of globalization. PKU Medical entered into a strategic cooperation agreement with Trendlines Group and Rainbow Medical Group. PKU will use this cooperation to further transform itself from a traditional industrial park to an innovation incubator, help international experience of Chinese-style innovation docking and explore the international innovation path of PKU. Full article (Chinese)

13 February 2018 - Shenzhen Kaifa to invest $5m in UG-Technion Fund. Shenzhen Kaifa Technology Co Ltd has announced a $5 million investment in UG-Technion Technology Fund LP. The fund was established in October 2017 by Technion Research and Development Foundation and UG Capital Management Limited. Its target is $200 million, focusing on new materials, cleantech, Internet technology, and biosciences/medical devices.  Full article (Chinese)

12 February 2018 - Chinese bike-sharing co Ofo opens in Israel. After a successful pilot scheme at Bar-Ilan University, Chinese bicycle sharing company Ofo has opened a representative office in Israel, and appointed Imri Galai as general manager of the Israeli branch, the company announced today. Full article

12 February 2018 - China updates 'sensitive sectors' for outbound investment. Effective from March 1, investment in overseas projects of telecoms operation, massive land development, and electric mains and power grids are no longer considered sensitive, however the arms industry was added to the list.  Full article

7 February 2018 - China's Ping An Ventures to Raise Up to $1.3 Billion for Healthcare Investments. The new funds will deepen the group's push into the healthcare sector and build up its firepower for later-stage investments, at a time when valuations in the fast-growing tech and healthcare industries have spiked. The firm aims to raise $300 to $500 million in a dollar-denominated fund and RMB 4 billion to 5 billion ($640 million-$800 million) in an RMB fund. They would primarily invest in healthcare start-ups at home and overseas. Full article

7 February 2018 - Alibaba Partners with SQream to Supply a Cloud Database in China. As part of the partnership, Alibaba will market the database to its Chinese cloud customers. Alibaba has also agreed to invest up to $20 million in SQream, according to one person familiar with the agreement who spoke on conditions of anonymity. Full article

6 February 2018 - Roots signs $19m Chinese agritech deal. Agrotech company Roots Sustainable Agricultural Technologies Ltd. (ASX:ROO) has signed a distribution contract with Dagan in China likely to amount to $19 million over five years. The company develops and markets a system that makes it possible to heat and cool crop roots, while consuming very little energy. Full article

5 February 2018 - Fosun establishes tech innovation center, plans minimum RMB 20 billion investments. Headquartered in Shanghai, the center plans a second headquarters in Silicon valley and in coming years will set up R&D centers in Shenzhen, Beijing, Israel, Germany, Britain, India, and Southeast Asia. In the next three years Fosun will invest at least RMB 20 billion in technological innovation and R&D, focusing on IoT, artificial intelligence, big data, blockchain, robotics, new materials, new energy and other fields. Full article (Chinese)

31 January 2018 - Insightech Closes $150M Series E Financing. GEOC backed Insightech plans to use proceeds to support marketing and commercialization for its approved safe and non-invasive treatments, including Exablate® Neuro for essential tremor (ET), and for continuing research and development towards addressing other brain indications including Parkinson’s disease, Alzheimer’s disease, and cancer. Full article

31 January 2018 - Alibaba’s Jack Ma Plans May Visit to Israel. Jack Ma plans to visit Israel in May to meet with local venture capital funds and startups, according to anonymous sources familiar with the matter. On May 3, Mr. Ma will be awarded an honorary doctorate from Tel Aviv University. Full article

31 January 2018 - Shanghai listed Luenmei Quantum to invest $36m in Mantis Vision. Luenmei Quantum will become the largest shareholder in Mantis Vision with 17.35% holding. Luenmei joins existing investors Qualcomm, Flextronics, Samsung, Sunny Optical Technology, and others.  Full article (Chinese)

30 January 2018 - Playtika takeover delayed by Chinese authorities. The $4.8bn (€3.9bn) purchase of Playtika, agreed in 2016 between the social gaming developer’s owner and a Chinese consortium including Alibaba’s Jack Ma, has hit a regulatory hurdle due to China’s clampdown on foreign acquisitions, according to a report in the Wall Street Journal. Reportedly, it is felt that Playtika’s social games promote gambling, which is illegal across all of China apart from Macau. Full article

30 January 2018 - Chengdu - Israel Science and Technology Innovation Center Established. Israel BP & C Group, Sichuan Zhongsheng Group and Chengdu Hi-tech Zone signed an agreement to establish Chengdu-Israel Scientific and Technological Innovation Center in Chengdu’s Hi-tech Zone in partnership with the Haifa Life Science and Technology Park. Operations will focus on biomed R&D, smart healthcare and big data applications among other fields. The center will launch a RMB 500 million fund for innovation and investment. Full article (Chinese)

30 January 2018 - ZZ Capital International Ltd scales back operations in light of outbound restrictions. The retreat is the latest sign that China’s business elite see little hope of a reversal in President Xi Jinping’s crackdown on outbound dealmaking. “Steps have been taken to make a number of redundancies in the Hong Kong office, but these will have no impact on daily operations,” said a representative for ZZ Capital International, which has offices in the UK, US and Israel. Full article

29 January 2018 - Newly formed Playtika Growth Investments announces $400 million Israel-focused fund. Playtika Growth will target companies that are already profitable or near breakeven and have proven business models and products. “Understanding how to manage a global business with sophisticated multinational partners is part of the skillset required for Israel to build world-leading companies and not just innovative startups; we now offer that knowledge," said CEO Robert Antokol, referring to Playtika’s Chinese ownership. Full article

29 January 2018 - China’s healthcare-focused PE firm C-Bridge raising $650m third fund. This will be C-Bridge’s largest vehicle and like its previous funds, will focus on late-stage companies in biotechnology, pharmaceuticals, medical devices and healthcare. C-Bridge focuses investments in China, Israel and the U.S. Full article

29 January 2018 - Telehealth Company Tyto Care Raises $25 Million led by Ping An. The round was led by Ping An Global Voyager Fund, which joined existing investors including Fosun. As part of this funding, Ping An and Tyto Care will form a strategic partnership to implement Tyto into Ping An's offerings in the Chinese market. Tyto Care also has the option to expand funding to $28 million in the next few months.  Full article

24 January 2018 - Alibaba invests in Nexar's $30m financing round. Israeli smart dashcam developer Nexar today completed a $30 million financing round. Investors in the round included Alibaba and Nationwide Insurance, which are likely to open doors in East Asian markets and the insurance market. Nexar says that since its app was launched in 2016, users in 740 cities in 160 countries have driven more than 160 million kilometers with it. Full article

24 January 2018 - Alipay comes to Israel via Israel Credit Card and OneBill. The companies will be cooperating to facilitate payments for Chinese visitors to Israel. Diamond Mines, Caprice, Ahava cosmetics and others are among the first businesses in the Middle East to offer in-store payments with Alipay’s digital wallet. El-Al and James Richardson Duty Free chain stores will soon follow. Full article

16 January 2018 - InfinityAR and Nanjing Ruiyue Technology (Nibiru) Announce a Strategic Collaboration Agreement. The collaboration is designed to provide a comprehensive solution for electronics manufacturers looking to enter the augmented / mixed reality glasses. It will bring together technology from both companies, making the mixed reality headsets both light and affordable, while providing immersive user experience. Full article

23 January 2018 - Harbin and Israel sign to build agricultural industrial park. During the 2018 China (Harbin) - Israel Modern Agriculture Summit Forum, the Chinese city and the Israel Ministry of Economy and Industry signed to cooperate in building an agricultural industrial park which will cover an area of 3.32 million square meters with a total planned investment of RMB 5.6 billion. Full article (Chinese)

21 January 2018 - Dell to Distribute Augmented Reality Headset by Meta. Israeli-founded Meta is releasing commercial product Meta 2, to be distributed by Dell. In 2015, Meta announced a $23 million Series A funding round led by Hong Kong-based Horizons Ventures Ltd. The following year, it raised $50 million in venture funding from Lenovo and Tencent Holdings, among others. Full article

17 January 2018 - China, Israel launch Xiamen incubator to promote technology cooperation. Located in Xiamen's Software Park, the center has established ties with more than 200 high-tech companies, research institutions and incubators in Israel, in areas such as artificial intelligence, health care and clean energy, and will provide services to Chinese companies keen to apply Israel's advanced technologies to their innovation projects. Full article

17 January 2018 - More future China-Israel transport infrastructure cooperation. On the occasion of the Tel Aviv-Jerusalem rapid rail transit test drive, Israel's Transport Minister Israel Katz said Israel and China have signed and MOU for transport infrastructure projects. It is expected that medium-sized Chinese enterprises will have more opportunities to cooperate in Israeli projects involving railways, light railways, ports and aviation. Full article (Chinese)

15 January 2018 - Rushan (Shandong) Economic Development Zone includes Israel in 2018 plans. Leveraging the China-Israel Blue Economy Center and the China-Israel Technology Industry Investment and Guidance Fund, more than 10 high-tech projects will be screened and promoted for investment and technology transfer. Full article (Chinese)

15 January 2018 - Adama raises $240 million in China. The recently combined Adama Agricultural Solutions Ltd. and Hubei Sanonda Ltd have raised $240 million in a non-public A-share offering. Investors include China Cinda Asset Management Co., Ltd., China Huarong Asset Management Co., Ltd. (through CCB Fund Management Co., Ltd. ) , Penghua Fund Management Co., Ltd, Chinese State-Owned Enterprise Restructuring Fund Ltd, and Xingquan Fund Management Limited. Full article (Chinese)

11 January 2018 - Hubei Fubon acquires 10% stake in Saturas. Hubei Fubon announced a share subscription agreement for 10.79% ownership in the Israeli irrigation company valued at $1.5 million. With the agreement Fubon has preferential cooperation rights in the Chinese market for Saturas’s technology and will assist Saturas Israel in conducting scientific experiments and commercialization of water-saving irrigation and smart agriculture in China.  Full article (Chinese)

11 January 2018 - Gal Gadot Is Huawei’s New CEO—Chief Experience Officer. Ms. Gadot will join Huawei’s marketing efforts as the company introduces its Mate10 Pro mobile phone to U.S. market. In 2015 and 2016, Ms. Gadot was featured in ad campaigns for Huawei phones in Israel. Full article

11 January 2018 - 123,000 Chinese visited Israel in 2017. According to statistics released by Israel’s Central Bureau of Statistics, the number of Chinese tourists visiting Israel for the first time in 2017 exceeded 100,000, reaching 123,000 - an increase of 45% from 2016. To meet growing transportation needs, plans are in place to open a new direct route between China and Israel this year. Full article (Chinese)

9 January 2018 - Intel, Mobileye Partner with Chinese Automaker SAIC on Self-Driving Cars. As part of the collaboration, SAIC will develop autonomous vehicles based on Mobileye's technology in China. Full article

9 January 2018 - Israel’s Kenon, China’s Chery sell control in car maker for $1 billion. A China-based investor related to the Baoneng group has bought a 51% stake in Qoros, bringing Kenon’s holding down to 24% and Chery’s stake to 25%, from 50% each. Kenon shares jumped 30% upon release of the news. Full article

9 January 2018 - ElliQ has raised $22 million for its social robot aimed at older adults. The latest round for the two-year-old startup was a $20 million Series A whose rather large group of investors included Glory Ventures. Full article

8 January 2018 - Dotz Nano clinches US$15M agreement to sell graphene quantum dots into China. The company’s 100%-owned subsidiary Dotz Nano (Israel) secured the contract which will generate at least US$2.5 million this year. Pending product specification approvals, China Israel (hengqin) Science Technology Innovation Centre, also known as CisticPoly, will distribute the graphene quantum dots into China. Full article

8 January 2018 - China to Push Ten FTAs ​​in 2018. According to MofCOM’s recently released "2016 China Free Trade Zone Development Report", the Ministry will promote ten new Free Trade Agreements in 2018, including with Israel. To date, China has signed 16 free trade agreements involving 24 countries and regions. Full article (Chinese)

25 December 2017 - Merck, China’s WuXi AppTec to Launch Biotech Incubator in Israel. Shanghai-based pharmaceutical company WuXi AppTec Group is partnering with Merck Serono, a subsidiary of company Merck KGaA, to launch a pharma and biotech startup incubator in Israel in early 2018. Israel-born businessman Mori Arkin and life sciences-focused venture capital fund Pontifax Ltd. will also be part of the venture, named “Explore Bio”. Full article

21 December 2017 - China’s Baoneng to Invest $1 billion for a Controlling Stake in Car Maker Qoros. Kenon had announced the potential investment in June without disclosing the identity of the investor. Kenon and Chery have committed to reinvesting “substantially all of the proceeds” from Baoneng back into Qoros. Full article

19 December 2017 - Li Ka-Shing and son attend Guangdong Israel Institute of Technology inauguration. Five years ago, Li Ka-Shing donated $130 million to establish Technion’s partner school in China. A year ago, the Chinese Ministry of Education approved the formal establishment of GTIIT. Today, a modern campus has been established and the first batch of students have enrolled. Full article (Chinese)

17 December 2017 - Zhongbao Hua’an joins with Maritime Seagulls Security to open up the Israeli market. The joint venture established by both parties will ensure the safety of Chinese citizens in three major ways: opening overseas safety service hotlines, launching WeChat public phone number and providing paid services to enterprises. Full article (Chinese)

14 December 2017 - Sinofert signed a strategic cooperation agreement with Israel's Gat Fertilizer Company. Under the agreement, from 2018, "GATIT" brand products will be exclusively distributed by Sinofert in China. At the same time, both parties will conduct in-depth cooperation in industrial upgrading, introduction of new technologies, product development and technology promotion to jointly promote fertilizer efficiency and agricultural sustainable development. Full article (Chinese)

14 December 2017 - China’s Oppo Invests in Startup that Turns Any Earphone into a Sonar Device. Israel-based Bugatone develops software that enables headphones to act as sensors and pick up biometric information from users. Bugatone said it is in contact with several mobile phone makers about introducing the software into their products. Full article

13 December 2017 - Israeli comedians visit Chengdu and its pandas; and a CTU-TLV route is in the works. Chengdu’s Chenghua District and the Consulate General of Israel in Chengdu cooperate to recruit international volunteers and conduct Giant Panda volunteer activities at the Giant Panda Breeding Research Base to promote the giant panda culture brand to the world. This was also a good time to announce plans that Chengdu-Tel Aviv direct flights are expected to begin next year. Full article (Chinese)

9 December 2017 - The Trump Effect: China's Singulato and Tencent cancel visits to Israel. High-tech delegations from Japan and China canceled trips to Israel following U.S. President Donald Trump's recognition of Jerusalem as Israel's capital. The Chinese Embassy in Tel Aviv has issued a formal travel warning, valid until January 10, 2018. China is concerned about the security situation following Trump's announcement, and expects the conflict to impact its investment programs in Israel. Full article

5 December 2017 - China to rein in infrastructure building binge, analysts predict. China’s frenzied construction of roads, bridges and subway systems is set for a major slowdown, adding a headwind to economic growth in 2018. The slowdown comes as the authorities try to curb massive levels of debt in the economy.  Full article

5 December 2017 - Payoneer Announces Strategic Investment by China Broadband Capital. With the Series E-1 funding (of an undisclosed amount), CBC now joins Ping An as China-based investors in Payoneer. The funding will be used to further strengthen Payoneer's global platform and accelerate investment in the company's local China operations. Full article

4 December 2017 - Israeli Technology Boards Chinese Buses. Israel's auto-tech industry is buzzing as Mobileye is installed in Chinese buses, auto-tech startups close large financing rounds and carmakers open offices in Israel. Full article

4 December 2017 - Bank of China Partners with Israeli Bank to Extend Credit to Israeli Companies. The Bank partnered with Israel’s Bank Leumi, one of the two largest banks in Israel. According to the deal, the two banks will collaborate to extend credit up to $200 million to Israeli companies operating in China. Full article / More details in Hebrew

2 December 2017 - Israeli irrigation technology saves Taizhou around 20% water. Anhui Longkun Internet of Things Co., Ltd. and Israel's AWL jointly launched a new system applying IoT, cloud computing, data analysis and forecasting capabilities to agricultural enterprises in order to achieve precise management and cost reduction. The technology enables accurate and real-time monitoring of crops in order to automate decisions to provide proper irrigation, increasing crop yields by more than 5% and saving on average 20% of water. Full article (Chinese)

2 December 2017 - China, Israel complete 3rd round of FTA negotiations. The third round of negotiation on China-Israel Free Trade Area (FTA) concluded last Thursday according to reports. The two sides discussed boosting cooperation in fields including trade, technology and e-commerce, as well as customs procedures, as well as sanitary and phytosanitary measures. Full article

30 November 2017 - Alibaba reported to buy Visualead, in first Israel acquisition. Chinese commerce giant Alibaba is in the final stages of acquiring Israeli startup Visualead ($15 million), which will reportedly turn into the company’s Israel-based development center in the field of computerized vision. Full article

30 November 2017 - Aurora Labs Raises $2.7M in Seed Funding. Investors include Sino-Israel VC firm MizMaa. Aurora Labs develops a self-healing platform for connected cars to reduce software recalls. Full article

29 November 2017 - Vive announces 3rd batch of companies for accelerator program; expands operations to Tel Aviv. HTC’s $100 million Vive X Accelerator announced the selection of 26 companies to participate in its upcoming program with the goal of building and advancing the global VR/AR ecosystem. Two of the companies are from Israel: Astral Vision and Remmersive. Full article
28 November 2017 - Israeli AgTech cooperation in Jilin Province. Reported as a “win-win” and complementary cooperation, Israel and Jilin Province will exchange market share and technology. Jilin Province has already conducted in-depth exchanges with Israel in seed cultivation, greenhouses and greenhouse technologies.  Full article (Chinese)

28 November 2017 - Israeli private funding regs to include crowdfunding. The Knesset has recently amended Israeli regulation which currently allows private companies to finance through banks or institutional investors, venture funds, angel investors or through groups of up to 35 trusted investors. With the changes, private companies will be able to issue fixed-income bonds to the public through crowdfunding platforms, exposing companies to a wider pool of investors. Full article (Chinese)

28 November 2017 - China's NIO Capital eyes $500 million dollar fund for auto investments. NIO Capital, a Tencent-backed investment firm founded by leading Chinese electric vehicle maker NIO, is reportedly in talks with prospective investors to raise up to $500 million in a USD auto focused fund. The fund will target foreign tech start-ups and Chinese firms using overseas structures such as VIEs. Full article

28 November 2017 - 10 Israel startups chosen for Beijing accelerator. The new six month Israel-China accelerator program in Beijing is led by Israel's Ministry of Economy and Industry in cooperation with China's Shengjing Group and DayDayUp. The startups chosen are Anzu, Social internet, TechsoMed, I know first, TapReason, Modcon, Gencell, Personalics, Pom Vom, and Watteam. Full article

27 November 2017 - After delays: First 100 Chinese construction workers arrive in Israel. The agreement signed between the countries seven months ago confirms the arrival of some 6,000 workers in the field of plaster and concrete work, but so far the Chinese Embassy has approved only 1,697 of them. Full article

27 November 2017 - China Cultural Center opens in Israel to boost exchange, mutual understanding. The center sits in Tel Aviv's business district and covers a total area of about 1,000 sq meters, with a multi-purpose hall, training rooms, a library and an audio-visual area. It will host events like art performances, cultural exhibitions, academic seminars and other activities. Full article

26 November 2017 - Sirius exercising option to buy control of Phoenix. Delek announced that Sirius had decided to exercise its call option for buying the remaining 47% in Phoenix owned by Delek Group for NIS 2.3 billion. Despite the progress made in the deal for the sale of a controlling interest in Phoenix, Sirius still faces its main obstacle – obtaining a permit from the Capital Market Authority to hold a controlling interest in Phoenix. Full article

26 November 2017 - Why Israel is the new promised land for Chinese investors. Several investors and deals professionals give their insight on the China-Israel deals channel. Full article

23 November 2017 - Chinese Electronics Company TCL Partners With Israeli Connected Kitchen Startup Freshub. As part of the partnership, Freshub’s IoT-enabled smart kitchen technology has been integrated into TCL’s Xess mini tablet, a 15.6 inch Android device designed to be used as a kitchen assistant. The company has partnered with supermarket chains Peapod, Shipt, and Woodman’s Markets. Freshub’s technology is available in the U.S. and Europe. Full article

23 November 2017 - Israel-Anhui AgTech cooperation continues. By March of next year, it is expected that more Israeli agricultural science and technology projects will come to Anhui. In September 2017, Israel's agricultural departments and enterprises will organize delegations to participate in Anhui’s agricultural fair. In 2011, Anhui and Israel's Ministry of Agriculture signed an agricultural cooperation; in 2014, the "Anhui-Israel Cooperation Alliance" was established as a cooperation platform; in 2015, Anhui organized 11 enterprises to participate in the 19th International High-Tech Agricultural Expo; and this year, nine Israeli high-tech agricultural enterprises participated in the Hefei Agricultural Fair. In personnel exchanges, Anhui has sent more than 70 agricultural workers to Israel to study modern agriculture. Full article (Chinese)

21 November 2017 - Kanghong Pharma signs acquisition agreement with IOPtima. The acquisition will happen in four stages, eventually buying out all of IOPtima's shareholders for around $56 million (XL Vision Sciences Ltd., Beijing Infinity Innovation Investment Centre L.P., Dalian Sino-Israel Biomedical Investment Centre L.P., and Taiwan based Diamond Biofund Inc.) The first phase will be a $7 million investment for 19% holding in IOPtima. Kanghang Disclosure (Chinese), Full article

20 November 2017 - 6th High-tech Investment Summit held in Haifa. This year’s summit reportedly saw some 200 attendees from China and Israel. Among subjects discussed was cooperation within more sectors, expanded from agriculture, medicine and biology to leading-edge sectors such as life science, smart city, aging tech, robotics and 3D printing.  Full article

19 November 2017 - In a co-production documentary "Made in China" ratings hit a record high in Israel. In light of Israel and China’s 25th anniversary of diplomatic relations, ZDF Israel and China Radio International co-produced a 5-part documentary to show the “real” China, full of innovation and not just factories anymore. Full article (Chinese)

17 November 2017 - 14th Jiangsu-Israel R&D joint projects kicks off. Both the Israeli and Jiangsu governments are accepting applications in all tech sectors to partner in R&D projects. Full article (Israeli side), Full article (Chinese side)

16 November 2017 - The China-Israel Accelerator project advances. In July this year, China and Israel signed the China-Israel Accelerator project. Next week DayDayUp Founder and CEO Bo Yi Qun will go to Israel to participate in the selection of companies that will be inducted in the program. Five Israeli AI application start-ups will come to China and participate in a 6-month accelerator, including setting up at DayDayUp. The aim is to bring the startups from a point of no experience in China to a point of being able to develop independently in China, within the six months. Full article (Chinese)

16 November 2017 - 21-year-old uses bar mitzva money to launch OlehPay, now eyed by a Chinese investor. Joseph Sokol used the money he received as bar mitzva gifts to back OlehPay, a website that enables users to inexpensively send money from the US to Israel. The firm may have nabbed the attention of a Chinese billionaire who recently heard its investor pitch and said he’d like to invest in the firm, Sokol said. Negotiations are underway for a $200,000 investment, but for now Sokol is not releasing the identity of the Chinese potential investor. Full article

16 November 2017 - China outbound investment down nearly 41% in 2017. Following last year’s clampdown, in August of this year China’s cabinet formalised a new framework that encourages deals that fit Beijing’s strategic priorities and discourages deals in entertainment, sports and luxury real estate. In early November the government further tightened controls over outbound investment by requiring regulatory approval for some foreign acquisitions conducted through an offshore entity. Full article

16 November 2017 - China puts its stamp on international deals. Beijing wants a bigger say on mergers, including those outside its own jurisdiction. An expert states, “The purpose of a merger review [by Mofcom] is to assess how [a deal] accords with domestic economic interest.” For example, on November 7 this year, Mofcom approved a $25B merger between two fertiliser companies, but ordered them to divest themselves of interests in Chile and Israel. Legal advisers say Mofcom’s focus on industrial policy means multinationals should consider tailoring merger filings to the Chinese market. Full article

15 November 2017 - Submissions open for 2018 Israel-China Scientific Cooperation. Continuing an MOU signed in 2007, the Natural Science Foundation of China (NSFC) and the Israel Science Foundation (ISF) have launched submissions for application for the cooperative’s 2018 collaborative research project. ISF (Hebrew) and NSFC (Chinese)

15 November 2017 - Tax authority sets out new ruling for Israelis who relocate abroad. The tax authority has issued a new ruling meant to ease taxation procedures for Israelis relocating abroad, though a tax expert says the new framework is still very strict compared to how existing Israeli law could be interpreted. Full article

15 November 2017 - Israel Tax Authority Clamping Down on Offshore Accounts. Hong Kong has become the tax haven of choice for many Israelis with offshore assets. Now, the Israel Tax Authority is seeking to implement an information exchange with the Chinese territory. Full article

15 November 2017 - Chinese Retail Chain XIMI Vogue now in Israel. The chain markets household appliances, bags, digital gadgets, kitchen products, mobile phones, toys, jewelry, stationery and dolls, and is expected to open 7 stores by the end of 2018. The franchise was brought to Israel by brothers Lior and Asher Matityahu, importers of toys and office equipment from China. Shareholding will be split 50/50 between the Mitityahus and the Chinese company. Full article (Hebrew)

14 November 2017 - Chinese Company Launches Startup Accelerator in Israel. A Chinese government-backed startup accelerator is launching an offshoot in Haifa next week. The goal of Chengdu-Israel Incubator will be to facilitate business ties between Israeli tech entrepreneurs and companies clustered in the city of Chengdu in western China, said Tami Kfir who is heading the initiative. Full article

14 November 2017 - 15 Israeli Companies Attend China Roadshow. Fifteen Israeli companies were selected from 160 applicants for the annual Israel Innovation Authority/Chinese Ministry of Science and Technology roadshow in China. only 15 were selected out of 40 by a Chinese investors’ delegation in a preliminary pitching event held in Israel in July 2017 by the Israeli Innovation Authority. The companies participated in pitching competitions in Changzhou and Beijing, presenting their products and technologies to investors like Fuson, PingAn Ventures, Go Capital, and San Power. Full article

13 November 2017 - Carasso Real Estate signs first agreement with Chinese contractor. Beijing Construction Engineering Group (BCEG) will build 129 housing units and an underground parking lot in Kiryat Ono. While, commercially, the deal appears to be a win-win, there are social worries around Israeli construction jobs.  Full article

10 November 2017 - Roboteam’s Temi debuted in China. Roboteam CEO Yossi Wolf and investor Wu Jiong (former Alibaba CTO) presented the home robot to a Chinese audience elaborating on technical features and potential future collaboration with Baidu. Full article (Chinese)

10 November 2017 - China pledges to open finance sector to more foreign ownership. China has announced plans to ease limits on foreign ownership of financial services groups, following years of complaints that such restrictions block foreign groups’ development in the country. The government will relax or eliminate ownership limits in commercial banking, securities, futures, asset management and insurance.  Full article

10 November 2017 - CRCC joins Tevel Consortium on the Tel Aviv Light Rail Red Line. China Railway Construction Corp (CRCC) has signed an agreement with China Civil Engineering Construction Corporation (CCECC), Shenzhen Metro Group and Egged Bus Company for an operation and management agreement of the Tel Aviv Light Rail Red Line. Globes reported last August that the consortium, consisting then of Egged (51%), Shenzhen Metro (30%) and CCECC (19%) won the bid to operate and maintain the line, pending anti-trust approval. Changes in partnership percentages were not disclosed in this most recent news. ( Full article (Chinese)

8 November 2017 - Fosun Leads $30 Million Round for Heart Valve Company MitrAssist. Ping An Insurance Company of China Ltd. also participated in the round. MitrAssist received $16 million of the investment according to a pre-closing company valuation of $80 million. The company will receive an additional $14 million according to a pre-closing valuation of $136 million when it begins clinical trials, expected within a year. Full article

7 November 2017 - Baidu sets out to hunt technology in Israel. Baidu plans to set up a $200 million (or more) global fund in 2018 and will for investment in Silicon Valley, Israel and Europe. Baidu is interested in both start-ups and mature companies, in AI, computer vision, voice recognition, cyber protection, sensors, chips for the automotive industry, etc. Full article (Hebrew)

7 November 2017 - China and Israel sign AEO customs agreement. After three years of negotiations China and Israel have signed an AEO agreement to facilitate import/export customs procedures between the two countries. Full article

7 November 2017 - Israeli experts help Fujian aquaculture restructuring and upgrading. According to reports, the training course invited Dr. Berjino Issek and Margarita Smirnova of Mashaff International Training Center of Ministry of Foreign Affairs of Israel to teach about the health of aquaculture fish and the prevention and control of fish diseases; water Resource conservation, management and sustainable use and other issues. Lin Yueling, vice mayor of Ningde City, said training and exchange will effectively promote the transformation and upgrading of Ningde aquaculture industry. Full article (Chinese)

3 November 2017 - China issues draft guidelines on overseas investment amid crackdown on deals. The guidelines streamline approval processes for deals while raising oversight for projects in sensitive sectors and countries, the government said. Sensitive projects include those in countries that are at war, that do not have diplomatic ties with China or where investment is restricted by China’s commitments to international treaties, resolutions or requirements. Sensitive secotrs include media organisations, weapons manufacturing, companies involved in multinational water resources exploitation or those where China’s national macro policies restrict investment. Full article

2 November 2017 - Sirius submits official request to buy Phoenix. The Chinese company has already acquired a 4.9% stake in the insurance company from Delek for NIS 208 million. Sirius has submitted an official request to Israel's Capital Market, Insurance and Savings Authority ahead of the timetable set out in its agreement with Delek. Full article

2 November 2017 - Teva and Guangzhou Pharma may be joining forces in China. In a Bloomberg interview, Guangzhou Pharmaceutical Holdings Ltd Chairman Li Chuyuan stated that Guangzhou Pharma is currently in talks with many international companies for possible partnerships, including being “very close to sealing a joint venture deal with Teva”. Teva said they currently do not have a JV agreement in China but did not state whether or not the companies are in talks.  Full article

2 November 2017 - Looking east, Israel may allow more stock exchange dual listings. The Israel Securities Authority (ISA) has drafted an amendment to add Hong Kong, Singapore and Toronto to its list of recognized exchanges, which is currently limited to markets in the United States and London. The move follows a push to strengthen economic ties with Asian countries and mirrors a recent Hong Kong stock exchange decision to accept Israeli companies. Full article

1 November 2017 - Israel's Ceva Q3 profit, revenue exceed estimates. Israeli chip designer Ceva reported on Wednesday higher profit and revenue in the third quarter, beating analysts' expectations, as it forged two new license agreements in China and three in the Asia-Pacific region. Full article

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