The cornerstone laying ceremony of GTIIT, Guangdong Technion-Israel Institute of Technology at last year’s China-Israel Investment Summit. Photo: Wikimedia Commons.

JNS.org — Chinese investors are expected to fund some 500 Israeli start-up companies with up to $50 billion, as the two countries continue to strengthen ties in many areas including trade and travel.

The deals were discussed at the second annual Innovation China-Israel Investment Summit on Wednesday in Tel Aviv attended by over 1,000 Chinese investors.

“Over the past few years we have seen a series of investments coming to Israel from China, but only now are we beginning to understand the great potential of this cooperation for both countries,” said Amit Lang, director general of Israel’s Ministry of Economy and Industry, speaking at the conference.

“The importance we see in China as a strategic partner has made China the country with the highest number of Israeli trade missions in the world — in Beijing, Shanghai, Guangzhou, Hong Kong and, starting next week, Chengdu,” Lang said.

He also noted that Israel and China are in negotiations to establish a free-trade zone in an effort to remove any obstacles to trade as well as encourage investment opportunities between the two countries.

The Innovation event was organized by the Infinity Investment Group in collaboration with Israel’s Ministry of Economy and Industry.