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June 12, 2013 12:11 pm
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Major Chinese Conglomerate to Open Tech Incubator in Israel

avatar by Zach Pontz

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Benjamin Netanyahu meets with Chinese President Xi Jinping May 9, 2013. Photo: Israel GPO.

One of China’s largest conglomerates has announced it plans to establish a technology incubator in Israel.

Fosun International chairman Guo Guangchang told Prime Minister Benjamin Netanyahu of the plan following the latter’s recent visit to the country, Globes reports.

“The Fosun Group chairman updated the Prime Minister on the establishment of a venture capital fund in Israel to locate investments for the group in Israeli start-ups,” said the Prime Minister’s Office in a statement. “The group intends to increase its commercial presence in the form of a technological incubator to locate and promote Israeli technologies, as well as find additional business opportunities for cooperation with Israeli companies and distribute their products in the Chinese and international markets.”

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Specifics on the location of the incubator were not immediately available.

Following Fosun’s acquisition of Israel’s medical equipment manufacturer Alma Lasers in April, it announced it planned to strengthen its presence in the country beyond the medical equipment industry.

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  • Luigi Rosolin

    Cooperation is good,China can be ignore, certainly need to be monitor from negative politically interference, like anyone else nation. Their interest is very important in the relation with Israel neighbor Islamic state of undermine Israel. China had not interest to promote such behavior that is encouraging her internal Islamic community to rebel. China is a world wide power with must be deal, wanted or not, we are influence by the market power and the capacity of the army and the technological advance capacity that is changing the political alliance. Hope China will keep changing and help in a very constructive way for peace and recognition of Israel by the Arab country.

  • roy rosales

    israel should be cautious with red china.as carol said in her above comment.its obvious that fosun is just a front company,for them to have a window of opportunity for their espionage activities.in the philippines,they give money to leftist groups like kmu,anakpawis to propagate their ideology.they are very active with cyber espionage with u.s.a.

  • Carol

    As glad as I am to hear that companies are openly doing business with Israel, China does not have a good record on free trade, patent infringements, espionage and the like. I hope Israel will be on guard, so this is a truly mutual beneficial relationship.

    • Leslie Green

      Not to mention their horrible human rights record. Google Masanjia – one of thousands of slave labor “re-education camps” operated by the Chinese. Many of the prisoners are there simply because they are members of religious groups like Falun Gong or underground churches

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