At the first Israel Innovation Conference held in Tel Aviv, Israel on May 20 (local time), the Ministry of Science and Technology of P.R.C., Jiangsu Provincial People’s Government and the Ministry of Economy of Israel signed an agreement on co-developing Changzhou Innovation Park (Changzhou West Taihu Lake Science and Technology Industrial Park).

Since 2009, Changzhou and Wujin District has been committed to promoting the bilateral cooperation between China and Israel by attracting high-tech enterprises to set up branch in the West Taihu Lake area. Currently, a number of Israeli companies like Lycored, Tuttneue, Lytron Cooling, PTL Group, Soda Tech, etc. have made direct investment in the West Taihu Lake Science and Technology Industrial Park, involved in automotive parts, medical equipment, high-end electronic equipment, financial services, etc. Meanwhile, the park has introduced dozens of Israeli services-oriented enterprises for trade and business law consultation. In November 2013, the Park was identified as one of the four key areas for China-Israel hi-tech cooperation by National Development and Reform Commission of the P.R.C.