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Israeli Firms to Invest in China

Israel and China have signed an agreement for more Israeli firms to participate in Chinese development projects.

Finance Minister Avraham Shochat and his Chinese counterpart, Liu Zongli, announced the agreement Wednesday at a joint news conference here, adding that the two countries would also together on smaller agricultural, health and infrastructure projects.

During the next 15 years, the World Bank is funding large-scale development projects in China worth $2.5 billion.