Exclusive: Israel's chip sales to China jump as Intel expands

TEL AVIV: Israel's exports of computer chips to China soared last year as Chinese companies bought more semiconductors made at Intel's Kiryat Gat plant.

Intel announced a US$5 billion investment to expand capacity in its Kiryat Gat plant in southern Israel in 2017, which makes some of the smallest and fastest chips in the world. Israel's export institute also said sales to China of inspection equipment for semiconductor manufacturing jumped 64 percent to US$450 million last year.

That deal was announced a year ago but was held up by Chinese regulators, who only gave their approval in February.China is now Israel's second largest export market for goods after the United States, having overtaken Britain last year. In recent years, Chinese-based airlines have started direct flights to Tel Aviv, the two countries signed a visa agreement and are working on the trade deal. Israel is also in talks for free trade agreements with Vietnam and South Korea.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Israel launches Gaza strikes after rockets fired at Tel Aviv[GAZA] Israeli military aircraft bombed Hamas facilities in the Gaza Strip on Friday, hours after two rockets were launched from the Palestinian enclave at Tel Aviv in the first such attack since a 2014 war. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Businessman makes conditional cash offer for Fabchem ChinaSINGAPOREAN businessman Henry Wee has launched a conditional cash offer for shares of explosives maker Fabchem China at S$0.158 apiece. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Fuelled by China fears, Russians protest Baikal bottling plant[MOSCOW] A China-funded project to bottle water from Russia's Lake Baikal has caused a backlash in Siberia, where people are increasingly angry about what they see as a Chinese land-grab. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »