90 Israeli cos attend investor conference in China

China

An unprecedented 150 Israeli businessmen representing 90 companies yesterday left Israel on their way to an investors' conference in Beijing.

As part of the efforts to persuade Chinese investors to expand their cooperation with Israeli companies, the Ministry of Economy and Industry has launched a new Mandarin Chinese-language website explaining the business opportunities available and the business environment in Israel.

"Immediately with the launching, Chinese web surfers have been showing great interest in the new website, and we are receiving calls from companies dealing in various areas and showing great interest in Israeli technologies and various economic events scheduled in Israel," said Foreign Trade Administration director Ohad Cohen. "We hope that that the new website will enhance exposure of the Chinese to Israel, and the existing circle of connections at our commercial offices in China."

Israel operates four economic offices in China: in Shanghai, Beijing, Guangzhou, and Hong Kong.

150 Israeli businessmen representing 90 companies yesterday left Israel on their way to an investors' conference in China, which Ministry of Economy and Industry officials called "unprecedented."

The two-day conference, scheduled to begin this Tuesday, will take place in Beijing with the participation of Minister of National Infrastructure, Energy, and Water Resources Yuval Steinitz, Ministry of Economy and Industry director general Amit Lang, and Ministry of Economy and Industry Division for Foreign Investment and Industrial Cooperation director Ziva Eger. "An airlift of Israeli corporate leaders has left for China," Eger told "Globes." "This is the biggest event we have ever done in China, and one of the biggest events ever done in the number of participants.

"Around the event, 500-600 business meetings with potential investors from all over China have been scheduled for Israeli companies. The Chinese are already realizing the significance of investment in Israel and its great potential, and the goal of this conference is to reveal more information and data about Israel. There is a reason why an airlift of companies has gone."

Conference with the participation of the Fosun chairman

One of the interesting phenomena at the investment conference concerns Guo Guangchang, chairman of Chinese investment fund Fosun Group. Fosun recently signed an agreement to acquire Israeli insurance company The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) from Yitzhak Tshuva. When the deal is completed, Guangchang is expected to become chairman of Phoenix, subject to approval of the deal by Supervisor of Capital Markets, Insurance, and Savings Dorit Salinger.

It was reported in recent weeks that Guangchang had mysteriously disappeared, and rumors have been circulating about his disappearance. Meanwhile, however, Guangchang, 48, whose wealth is estimated at $7 billion, has already been seen in public, and has flown outside of China, among other places to Israel. The Ministry of Economy and Industry said that he would speak with Lang on the podium of the investors' conference.

The Israeli companies taking part in the conference include Mobileye(NYSE: MBLY), which deals in technologies for assisting drivers; Cortica, which deals in visual search technologies; Stratasys Inc. (Nasdaq: SSYS), which operates in the 3D printing sector; Water-Gen, a water sector company; and more.

The Ministry of Economy and Industry said that the effort to convince Chinese investors was part of the implementation of a 2013 cabinet resolution to strengthen economic cooperation between Israel and China. Figures from the Ministry of Economy and Industry show that Israel's bilateral trade with China totaled $11 billion in 2014 and $8 billion in the first two quarters of 2015: $2 billion in exports to China and $5.8 billion in imports from China.

Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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