Addressing developments and investment opportunities
The WuXi announcement Friday came a few days after a major conference in Tel Aviv, in which dozens of top business officials from China met with Israeli investors, start-ups, and veteran companies. The Go4Israel conference, organized by Cukierman & Co. Investment House Ltd. and Catalyst Funds, is considered one of the top venues for Israel-China business, addressing developments and investment opportunities in areas like high-tech, life sciences, renewable energy, real estate, and others.
Like other recent moves, the establishment by WuXi of an office in Israel is a further sign of a growing business relationship with China. Over the past two years, said Edouard Cukierman, chairman of Cukierman & Co. Investment House and managing partner of the Israel and Hong Kong-based Catalyst Investment Funds, “China has become the number one investor in Israel. For them, Israel is a great source of technology to help them develop their economy, while for us, it’s a fantastic opportunity to gain entry into the biggest market in the world.”
Last May, during a confluence of trade shows and government-sponsored events, there were nearly 1,000 Chinese business people in Israel at one time. Among those meetings was the first-ever Israel-China Economic Summit. Nearly all of them were in Israel for the first time, taking in the sights and scenery of the Start-Up Nation, and shopping around for technologies they can take home to help solve China’s manifold problems. The Summit was attended by several Knesset members, including Robert Ilatov and David Rotem, and Minister of Agriculture Yair Shamir, and was organized by a group called the Israel China Interflow Association (ICIA). Much of the technology that China needs, according to Chen Gang, mayor of Xiang He City outside Beijing, revolves around environmental issues, an area where Israel excels.