Israel China Bilateral Cooperation Article on "Calcalist"
SHENG’s Managing Partner, Ilan Maor, was interviewed to an article on Israel China bilateral cooperation, published by Israel’s leading economic daily “Calcalist”.
In the interview, Ilan Maor noted the high potential that modern China presents for the Israeli industry “the Chinese industry is constantly growing, developing and upgrading tech. Twenty years ago a tech company would go to the U.S. and Europe in part because the industry in China was not at the same level, but today that’s not the case”.
Ilan Maor also emphasized that for China, the Israeli market remains highly respected and the interest in cooperation comes from both the Israeli and Chinese governments and the companies: “It has been clear from government officials that they want to continue economic cooperation and support. Companies constantly want to do business in Israel.”
The article also presented the activities of the event of the China-Israel Changzhou Innovation Park (CICP), in Changzhou – “the main entry point for the growing number of Israeli tech companies flocking to form subsidiaries in China”. Israeli companies receive access to grants and financial incentives, subsidized office space and facilities (manufacturing space, laboratories, workshops), assistance in protecting intellectual property, support in hiring, subsidies for equipment, loans, assistance with permits and licenses, logistic management and other services intended to reduce the time and investment needed to penetrate the Chinese market.
Executives from two of SHENG’s good clients are also interviewed for the article.
Oren Bar-On, the Global COO & CEO of the China subsidiary of Foresight Automotive, who develops autonomous vehicle 3D stereo vision solutions, presented the subsidiary operating in CICP which was established in 2021 and noted that “the entire process was sponsored by the Chinese government though we had to inject some initial capital into the Chinese company. If we tried to establish the company independently it would have been extremely challenging, but everything we did was supported by the [park]. Within three months we had a legal entity operating and registered.”
To note that Foresight will be among the first group of six companies to join the “SHENG Israel – Jiangsu Innovation Hub”, to be launched in CICP in a couple of months, supporting Israeli technology companies, in generating cooperation, business and revenues in China.
Einav Ehra, the CFO & COO of Arineta Ltd., the leader in cardiovascular imaging solutions through cutting-edge technology, noted that China is a very advanced market, as the country investing a lot in healthcare. Arineta partnered last year with Shandong Yituo Medical Technology Development Co. Ltd. in the establishment of a joint venture in Jinan (Shandong). They are one of a growing number of Israeli tech companies establishing Chinese subsidiaries and Ehra noted that: “The process was so fast. After a year, we have a company established, offices and a factory”