Hi-tech venue in Israel kept open
A memorandum between Shenzhen and Israel was signed yesterday to keep the sub-venue of the 2011 China Hi-Tech Fair in Israel open. The government is reviewing the feasibility of subsidizing local enterprises that were set up at the sub-venue.
Sub fairs overseas will continue to improve the profile of the Hi-tech fair and create more opportunities for local companies in Shenzhen. The sub fair was the second one in Israel the first one was in Jerusalem last June. 40 local high tech companies attended the affair and representatives have discussed with more than 200 Israeli companies that are involved in information electronics, bio meds, energy saving and venture capital. Several local Chinese enterprises already found partners in Israel during the sub fair.
Israel is home for some research and development centers of multinationals from United States and some countries in Europe and Asia. Foreign trade between Shenzhen and Israel already reached an estimated US$ 416 million in the first half of the year alone. And by the end of July Israel will have 17 projects in the amount of US$2.6 million in Shenzhen.