Israel and China have announced a $300 million agreement to establish the XIN Research Center – a collaboration of unprecedented scope between Tel Aviv University and the elite Tsinghua University of Beijing. The new research project – sharing a base at the two institutions — will focus on nanotechnologies.

“It’s an unprecedented agreement in size and scope,” Tel Aviv University President Joseph Klafter said at a press conference.

The universities announced that they will exchange graduate students and faculty members. They also said their joint research may be expanded to raw materials, water treatment and environmental issues.

“We have collaborations with many other universities around the world, but this is the first that is so in-depth and innovative” said Tsinghua President Chen Jining.

Last year, the Technion-Israel Institute of Technology announced a smaller $150 million Israel-China academic project that will see the building of the Technion-Guangdong Institute of Technology at Shantou University.