Last week we celebrated the Chinese New Year of the Ox, and the firecrackers which color the skies of Shanghai, Beijing and other cities of China are chasing away the demons of the ending year, and especially the COVID19 demon, and welcoming a new and (hopefully) much better year…
The Chinese economy showed its resilience and strength in the past year, with fast recovery from the COVID19 crisis, achieving GDP growth of 2.3% (6.5% in Q4/2020) with major growth factors being the industrial production, which was strongly supported by the government; the global demand which drove export increase, and the rice in private consumption (with growth rates reaching +7.3%; +18.1%; +4.6% in December 2020). Foreign direct investments into China rose 4.5% in 2020 and reached 11 billion USD.
The growth trend is expected to continue and enhance in 2021, with GDP growth expected to climb to 7.1% (Credit Swiss prediction)
The economic and business cooperation between Israel and China showed its strength as well in the past year with bilateral trade achieving mild growth (6%) and reaching close to 12 billion USD. The main growth was in the import to Israel which grew to 7.7 billion USD while the Israeli export slightly decreased to 4.2 billion USD.
Although the past year have been a challenging one, with no international traveling and limited movement across China, SHENG’s also managed to pull through. SHENG’s teams in Israel and China showed their strength and capability and deficiently proved we have got what it takes to achieve success, even in challenging times…
SHENG’s reputation, network, and proven experience, helped us in closing deals between Israeli and Chinese companies – even between companies who never met each other. Among others SHENG closed 3 investment banking deals in the fields of advanced manufacturing, pharma, and consumer electronics…
SHENG’s team members across Tel Aviv, Shanghai, Wuxi and Changzhou and a strong network of friends and associates proved their commitment, capabilities, and skills, putting their heart and soul into making things happen.