China looks to Israel for hi-tech learnings
Israeli companies are developing business activity in China, which in turn is eager to learn from Israel successful hi-tech industry. A Jerusalem Post journalist met with Stone Shi, director of the Wujin Economic Zone (WEZ) in the eastern province of Jiangsu, at a Manufacturers Association of Israel conference in Tel Aviv on Monday. Shi’s agenda includes Israeli companies manufacturing medical and electronic products in China, for the Chinese population. Three Israeli firms are already active in the Changzhou Industrial Incubation Initiative, and four more have signed agreements to begin activity. The cooperations are “win-win”, the difficult economic climate in the U.S.and Europe makes China an attractive new market for Israeli companies, and the Chinese are eager to adopt the effective approach Israel has created in the hi-tech arena. Shi especially praisedIsrael’s incubator model, which encourages creative start-ups at the beginning stages.