Infinity Group Signs Agreement in Hall of the People in Ceremony Attended by the Prime Ministers of Israel and China
BEIJING, May 9, 2013 /PRNewswire/ --
Infinity Group, a cross-border platform, announced today that it signed a memorandum of understanding with China this week in the Hall of the People in Beijing in the presence of Prime Minister of China Li Keqaing and Prime Minister of Israel Benjamin Netanyahu. The agreement pertains to an IT, medical and agricultural cooperation with CCG SOE. This was the only signing ceremony during Prime Minister Netanyahu's visit to China this week that both prime ministers attended.
Today Prime Minister Netanyahu said, "Know-how cooperation is the basis for the Israel- China relationship. Israel should be the R&D center of China."
The ceremony follows Infinity Group's May 3rd announcement of the Beijing Eco-Valley Project, the first Sino-Israeli agricultural town. Eco-Valley is a joint initiative of Infinity Group, food industry giant COFCO, the City of Beijing and with the support of the government of Israel. The ceremony was attended by Ambassador to China from Israel, Mr. Matan Velnai and Chairman of the Board of COFCO Group, Mr. Ning Gaoning.
Amir Gal-Or, founder and managing partner of Infinity Group, said, "Infinity has been actively working in China for 10 years. During the last decade, we have established 17 RMB funds with local governments and industrial giants in China and have thus far closed more than 10 cross-border deals. We have learned a great deal during the last decade and aspire to continue doing so, by working in concert with our partners and gaining knowledge through collaboration and experience. The signing ceremonies of this week are milestones in this ongoing process. Indeed is a true honor to have reached these milestones in the company of the Prime Minister of Israel and China. With respect and trust, we will work closely with our partners to achieve the kind of success that will allow us to share our innovative technological advancements on a global platform."
Mr. Gal-Or continued, "During his visit to China, Israeli Prime Minister Benjamin Netanyahu emphasized the importance of how Israeli technology works together with Chinese manufacturing in a global market. China's Prime Minister Li Keqaing proposed to deepen the technology collaboration of the two countries. As a pioneer of Sino-Israeli technology cooperation, Infinity Group is willing to share its knowledge and experience with its partners. I believe that the innovative thinking of Israelis combined with the wisdom of the Chinese people is a winning recipe to create world-class products, technology and companies of the future. This is the reason why I decided to move my family to Beijing. Feeling optimistic about China's future, Infinity Group will also use its global network to assist Chinese companies to establish themselves in markets outside of China."
About Infinity Group
Infinity Group, which in 2013 is celebrating 10 years of actively working in China, is a cross-border platform known for its strong roots in China. Infinity Group currently manages RMB 10 billion and 100 portfolio companies, through 17 local RMB funds throughout China, making Infinity the owner of more RMB funds than any competitor. Infinity employs 80 professionals and to date has made 100 deals and 25 successful exits. It is also the founder of the Infinity IP Bank, the hub for IP development and commercialization in China. To date, the IP Bank has led 10 cross-border deals. Sectors of focus include: information technology, medical device and services, water clean tech, agriculture and materials. Infinity currently has offices in Beijing, Changzhou, Chengdu, Chongqing, Harbin, Hong Kong, Hongze, Jining, New York, Nanjing, Ningbo, Shanghai, Shijiazhuang, Suzhou, Suqian, Tel Aviv, Tianjin, Xiamen and Yangzhou. Infinity Group is backed by global investors such as the China Development Bank and Clal Industries, an Israel-based conglomerate. For more information, please visit http://www.infinity-equity.com .
SOURCE Infinity Group
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