EXCLUSIVE: Israel's chip sales to China jump as Intel expands by cohen_tova StevenMScheer
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.
The data will be welcome news for the Israeli government as it pushes for deeper ties with China and because semiconductors accounted for $3.9 billion of overall goods exports in 2018, according to the institute, a government agency. That year it also bought Israeli auto-focused chip and technology firm Mobileye for $15 billion. It said this year it would invest $11 billion in a new Israeli plant.
Israel’s export institute also said sales to China of inspection equipment for semiconductor manufacturing jumped 64 percent to $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.
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