China to set up 350 million US dollar industrial fund with Israel Infiniti

The National Development Bank will jointly set up a 350 million-dollar investment fund with the Israeli Infiniti Investment Corporation, which is the seventh Industrial Fund and the Sixth International Industry Fund, which was set up by the National Bank, and was recently informed by the State Development banks (hereinafter referred to as the state-run) China will enter into a cooperation agreement with the Israeli Infiniti (Infinity) investment company to establish a 350 million dollar investment fund. The new deal will be targeted at relatively advanced technology-development firms, not start-ups. According to Israeli media reports, the agreement will be signed this January 13-18th of the Israeli Vice Premier and Minister of Industry, Trade and labour, Eliahu, during his visit to China. This is the seventh Industrial Fund and the sixth International Industrial Fund. Prior to this, the bank has participated in the establishment of five international funds, respectively, the Sino-Swiss Cooperation Fund, China-Belgium Direct Equity investment fund, China-ASEAN Investment Fund, Zhongyi Mandarin Fund, Central African Fund, while participating in the establishment of two fund management companies, The Sino-Swiss venture capital management company and Bohai Industrial Investment fund management company. Israel's Infinity Investment company, which is strongly driven by the Israeli Government, is a well-known venture capital company in Israel, which has managed more than $420 million trillion in total over $33% since its inception in 1993. Infiniti's Fifth fund is the June 2004 and Sino-New Suzhou Industrial Park Venture Capital Co., Ltd. (CSVC), Suzhou Industrial Park jointly funded by the INFINITY-CSVC (Infiniti-New venture capital Enterprises), This is the first Sino-Foreign Joint Venture onshore fund (On-shore Fund) approved by the Chinese government. As of now, INFINITY-CSVC has invested 6 companies related to Israel and China, with about 6 million dollars invested in two projects in Nanomotion and Shellcase, which have already brought in more than 14 million dollars in return for investors. It is understood that the fund registered in the Caimas, Is., its establishment will be in accordance with international practice Limited Partnership type. According to the Bank of China, the reason for the selection of overseas registration is due to the lag of domestic tax legislation (the newly revised "Partnership Law" was implemented on June 1, 2007). According to China's current tax system, the three kinds of PE operating mechanism (company type, trust type, limited partnership type), the limited partnership tax is the highest. Prior to the establishment of the 6 PE, the ASEAN Fund for Limited Partnership, Zhongyi Mandarin Fund similar to the limited partnership, the Bohai Industrial Fund for the Trust, the remaining funds are company-type.