China and Israel Signed Third Financial Cooperation Protocol
June 10, 2010
China’s Vice Minister of Finance LI Yong met with Mr. Steinitz Israel’s Minister of Finance in Tel Aviv, Israel on May 13th, 2010. They signed, representing their respective governments, The Third Protocol for Financial Cooperation between the Government of the People’s Republic of China and the Government of the State of Israel.

In accordance with the stipulations of the Protocol, the Israeli Government will extend to the Chinese side US dollars four hundred million in preferential government loans, supporting China’s projects in high-tech sectors such as medical and health care, agricultural development, education and vocational training, water treatment, energy saving and emission reduction, etc.

Ever since China and Israel signed the First Financial Protocol in 1995, greater achievements have been scored in the bilateral financial cooperation. Up to date, the Israeli government has committed to the Chinese government in preferential government loan US$ one billion, of which some US$ 550 million have been effective and utilized, with about 190 projects. Those projects are all located in 29 provinces, autonomous regions and municipalities, as well as Xinjiang Production and Construction Corp. and some Enterprises under the Supervision of the Central Government.