Beijing’s ZhongGuanCun Science Park (Z-Park) will open a liaison office in its “twin city” of Tel Aviv, Beijing Vice Mayor Yin Hejun announced during an April 8 meeting of Beijing officials and Z-Park executives with Tel Aviv Deputy Mayor Doron Sapir.
The new Israeli liaison office will serve as an initial base for Chinese companies seeking to do business in Israel, and for Israeli companies seeking business opportunities in China.
ZhongGuanCun, “China’s Silicon Valley,” is home to nearly 20,000 high-tech enterprises including Lenovo, Baidu and Xiaomi, as well as about 40 colleges and universities, 200 scientific institutions including the Chinese Academy of Engineering, 67 state-level laboratories, 27 national engineering research centers, 28 national engineering and technological research centers, 24 university science and technology parks and 29 overseas student pioneer parks.
“Last year, the combined turnover of high-tech industries in Z-Park exceeded 5 trillion RMB (almost $800 billion),” said Hejun.
“In recent years we established 10 liaison offices of the park worldwide, including the USA. Today we announce the 11th office in Tel Aviv. We know how famous Tel Aviv is for its innovation, and openness to new ideas. We have a lot to learn from you.”
Z-Park’s Israel Liaison Office will be operated by Shengjing Group, the largest Chinese-related global venture-capital and private-equity fund.