Cooperation between China and Israel is progressing

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02:31

China has become the largest trade partner in Asia for Israel and its third largest global trade partner. And both have moved to improve their cooperation in science, technology, aviation and other sectors ever since Israeli Prime Minister Benjamin Netanyahu visited Beijing in 2017.

By the end of 2017, the bilateral trade volume between China and Israel hit 13 billion US dollars, a more than 15 percent increase from the previous year. In recent years, Chinese companies have become active investors in Israel from the traditional sectors to medical services, clean technology and the Internet.

“I feel very enthusiastic to have more cooperation in education, to walk together in high education, in science and technology, to build together platform of relations that having now advanced technology from Israel from China together,” said Eyal Propper, consul general of Israel in Shanghai.

AHAVA official website

The investments made by Chinese companies in Israel have totaled more than 6.5 billion US dollars and include the technology, food and cosmetics sectors. Ahava, the leading cosmetics company in Israel was fully acquired by Fosun Group for 77 million US dollars in 2016.

“Previously Ahava is like a national treasure brand, it's like a souvenir. Every one who comes to Israel, they'll buy Ahava products. And now we are going to brush up the image from being a souvenir to an international skincare brand. So in the future, we are going to focus more on the young generation and do more business through social networks,” said Tom Zheng, the executive president of the company.

Meanwhile, a China Cultural Center was set up in Tel Aviv last November. It is designed to host events such as art performances, cultural exhibitions, academic seminars and other activities. With more Chinese literature, musicals, plays being introduced to Israel, Dr. Propper said that he hopes to see more cultural exchanges between the two countries.