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China's tech money heads for Israel as US economy wanes
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China's tech money heads for Israel as US economy wanes

Struggling to seal deals in the United States as regulatory scrutiny tightens, Chinese companies looking to invest in promising technology are finding a warmer welcome for their cash in Israel.

Chinese firms have long hunted in the United States for deals to develop their technological know-how and open up new markets, but their quarry has become more elusive since late 2016 due to increased U.S. protectionism and a tougher regulatory stance.

Last year, Chinese investment into Israel jumped more than tenfold to a record $16.5 billion, with money flooding into the country's buzzing internet, cyber-security and medical device start-ups. These investments surged in the third quarter just as the U.S. regulatory crackdown began to bite, Thomson Reuters data shows.

Though Israeli Prime Minister Benjamin Netanyahu has touted Israel as a "perfect partner" for China in developing a range of life-changing technologies, it has not been all plain sailing for Chinese bidders.

The government has expressed concerns over the purchase of key financial assets such as insurers, fretting over pension cash.

Prior to 2016, China's few investments into Israel were largely outside the high-tech space, from ChemChina's acquisition of crop protection maker Adama to Bright Foods' takeover of food company Tnuva.

 Click here to read the full article in Reuters

 

Friday, May 19, 2017
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