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SIP Carries Out Exchange and Cooperation in Technological Innovation in Israel

Suzhou Industrial Park gave a successful presentation on investment promotion, entitled "SIP-Israeli Cooperation in Technological Innovation", in Tel Aviv, the economic center of Israel, on the afternoon of March 20, with the participation of over 260 personages from industrial and commercial circles in Israel, and Mr. Chen Yonglong, Chinese Ambassador to Israel.

In his speech at the presentation, Wang Jinhua, Deputy Secretary of CPC Suzhou Municipal Committee and Secretary of SIP Party Working Committee, elaborated on the sound foundation for cooperation between Suzhou and Israel, and expressed invitation to the businessmen at the meeting to survey and invest in SIP. Sun Yanyan, Vice-director of Sipac, was interviewed by Mr. Avishai, partner of Israeli Infinity Venture Investment, and gave a detailed account on the new innovative environment of SIP and the unique advantages in attracting hi-tech projects from Israel.

Mr. Avis Fischer, Vice-chairman of IDB Co. of Israel, introduced the experience in risk investment in SIP by his company, and gave high appraisal of the pro-business services in SIP. Tow hi-tech enterprises in SIP, China Wafer Level CSP Ltd. and Digital China Ltd. as successful examples of Sino-Israeli cooperation, also aroused keen interest of Israeli entrepreneurs at the meeting. A number of well-known Israeli enterprises, such as Amdocs, Glen Rock, UKI Investment, Makhteshim Agan Industries, Migdal Group, and Excellent Nessuah, etc., expressed their intentions to visit SIP for field surveys.

On the same day, SIP signed "Agreement on Strategic Partnership" with IDB Holdings of Israel, with the aim to attract more hi-tech Israeli companies to invest in China. According to the agreement, SIP will plan a specially-delineated "Israeli Industrial Park" for Israeli companies with the guarantee of HR, incentives, funds, and backup services. The signing ceremony was attended by Sipac representatives, IDB Holdings, Infinity Venture Investment Fund, and Israeli entrepreneurs, and diplomats form Chinese Embassy in Israel. Chinese Ambassador Chen Yonglong spoke highly of the act to enhance the bilateral cooperation between China and Israel at the ceremony and expressed warm invitation to Israeli entrepreneurs to invest in China.

During its visit to Israel, SIP delegation headed by Wang Jinhua also visited Teva, Infinity, IDB, and other major Israeli enterprises, and will attend Israeli national innovation conference on March 22 to give a speech. The delegation will next visit India for a series of investment promotion campaigns.

March 20, 2007

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