China : Israel to set up 2 permanent trade centers

Following declaration made earlier this year by The Ministry of Industry and trade putting China as a preferred export target, alongside India, Mexico, and Brazil the Ministry said that it will set up and operate two permanent trade centers in two Chinese provinces.
 
In a press release issued last week the Ministry of Industry and trade said that a special steering committee comprising Accountant General Dr. Yaron Zalika and Ministry of Industry, Trade and Labor Director General Raanan Dinur would pick the sites.
 
The Ministry of Industry and trade added that the two centers would ensure a permanent commercial presence of Israeli companies in China's widening markets.
 
Under the Ministry's plan, two Chinese trading companies, one in each province, will be chosen by tender by the end of 2005.
 
Each Chinese trading company will receive, in order to cover overhead costs, a low flat fee, paid by the Israeli Government and by the Israeli companies.
 
The Chinese companies’ profits will be generated from “success commissions” paid by Israeli exporters for new contracts.