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Shandong will hold the “Going to Israel” cross-border investment forum at the end of May to promote the partnership between the northeastern Chinese province’s state-backed companies and Israeli industries, as well as mergers and acquisitions and technical cooperation between the two sides.
Jinan-based Guohui Investment inked a cooperation agreement with Israel-based Cukierman Investment House last November and will jointly host the event on May 28.
“After a comprehensive assessment, Shandong has decided that Israel will be the main target country for overseas M&A and technical cooperation with its state-owned enterprises,” Guohui Chairman Yu Shaoming told Yicai Global.
State-owned Guohui handles state-owned asset restructuring, M&A, custody operations and market valuations, as well as disposal of non-performing assets.
The forum will promote the use of Israeli scientific research results and innovative technologies in Shandong, Yu said, adding that it will help to introduce innovative Israeli tech in the province.
The two sides also plan to set up a China-Israel investment fund to build an industry incubator, and establish an Israeli innovation project demonstration center in the province to showcase the latest Israeli scientific research results. They will also hold talks on setting up a demonstration zone for innovative cooperation in the capital Jinan, Yu added.
Cooperation between the two parties focuses on life sciences, network security, artificial intelligence, energy conservation and environmental protection, as well as agriculture.
Israel is the second largest hub for innovation globally after the US’ Silicon Valley, and is home to over 7,000 high-tech companies.
Source: yicaiglobal.com
