Over recent years, China has been streamlining measures and enacting policies for optimizing business, and 2018 was Hainan Island’s turn. The tropical island, which lies on the southern edge of mainland China and is well known for its “Hawaii-like” scenery reconfigured itself as a free trade port open to international business.
With the aim of attracting foreign investment into the island, Hainan now boasts an impressive GDP rate of over 530 billion RMB (77$ billion USD), proving it well on its way to become China’s biggest free trade port by 2035.
This can be described as the backdrop for the last China-Israel Technology Innovation Forum, which was held in Hainan’s Sanya in mid-December. The festive occasion was attended by Israel’s Consul General in Guangzhou Peleg Lewi, 2011 Nobel Prize winner Dan Shechtman, Chinese officials, and representatives of over 100 Chinese companies and 50 Israeli companies.
PTL Group’s China Sales Director Jun Peng, was one of the main speakers in the forum titled: Exchanging Intelligence for a Shared Future. Jun presented the journey a startup company that is entering the Chinese market goes through and explained the various steps and support such companies require.
Read more about PTL Group’s operational support for startups.
The roadshow was an opportunity for dozens of investors and companies that are doing business in China, to network, demonstrate their solutions and learn from others present. Most of those in attendance hailed from the realms of intelligent agriculture, AI, big data, and medical sectors. One of these companies was our client – Visionix.
Innovation is a pivotal part of China’s 14th five-year-plan, with China very much welcoming and opening up doors for companies that can support China in fulfilling this vision. So perhaps now is good time to start thinking about starting a business in China.