Chinese Firm Drops $285 Million on Israel’s SpaceCom Satellite Company – JNS BREAKING ISRAEL NEWS

Chinese Firm Drops $285 Million on Israel’s SpaceCom Satellite Company

“Know this day, and lay it to thy heart, that Hashem, He is God in heaven above and upon the earth beneath; there is none else.” Deuteronomy 4:39 (The Israel Bible™)

Chinese Firm Drops $285 Million on Israel’s SpaceCom Satellite Company

“Know this day, and lay it to thy heart, that Hashem, He is God in heaven above and upon the earth beneath; there is none else.” Deuteronomy 4:39 (The Israel Bible™)
The Chinese telecommunications conglomerate Xinwei Telecom Technology Group is buying Israeli satellite operator SpaceCom for $285 million, representing the latest of several recent Chinese purchases of Israeli companies and technologies.
The purchase is pending the successful launch of Spacecom’s Amos-6 telecommunications satellite, which was built by Israel Aerospace Industries. It will launch aboard a SpaceX Falcon 9 rocket on Sept. 3, Space News reported.
Chinese companies invested about $500 million in Israeli companies last year, according to analysis by the Ettinger Report. Israel’s trade with China is $11 billion, which represents 10 percent of Israel’s overall trade balance and double its 2010 trade balance.
Israeli technologies of special interest to Chinese companies include agro-technology and irrigation. In 2015, China’s Bright Food acquired Israel’s dairy product maker Tnuva for $2 billion. In 2011, China’s National Chemical Corp. bought Israeli pesticides and crop protection company Adama for $2.4 billion.

Steve Martin

STEVE & LAURIE MARTIN - LOVE FOR HIS PEOPLE FOUNDERS My good wife Laurie and I (45 years in October 2022!), through the ministry of Love For His People we founded in 2010, give love and support for our friends in Israel and in other nations with friendship, humanitarian aid, and social media support, along with Steve's messages, and our Ahava Adventures trips to Israel. Steve has also authored and published 34 books. We live in the Charlotte, NC area. We have four adult children, spouses, and eight grandkids.

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