China Everbright is planning to initiate $100 million to $200 million of investment activity in Israel’s technology sector. The company CEO Shuang Chen was in Israel last week where he met with the head of the National Economic Council, Eugene Kandel and with Sharon Kedmi, the director general of the Industry, Trade and Labor Ministry. He met, as well, with 25 Israeli technology companies.
Chen said that his company has almost signed his initial investment deals with Israeli companies. He is hoping to encourage joint ventures between the tech sectors for Israel and China. As Chen said, “Most of the Chinese investments not in government bonds are in financial institutions in Hong Kong or in natural resources.”
He continued, “We need to broaden our active collaborations with Israeli companies. We want to ease the way for companies and investors in China to look abroad and not fear investing. Chinese industry needs to adapt to today’s conditions and incorporate more technology. On the other hand Israeli companies can benefit from the distribution channels of Chinese companies to reach immense markets. This requires cooperation as early as the development stage: Complete buyouts aren’t enough.”
He explained that they hope to invest…”in companies in the fields of medicine, agriculture, and clean tech that have reached an advanced stage, companies with a product and sales but still looking for rapid growth.”
China Everbright Ltd. is listed on the Hong Kong Stock Exchange and has $10 billion under its management.