'The Chinese government bans all new investment in Israel'
Members of Kibbutz Hanita are suing the Chinese-controlled Ballet Vision fund for refusing to buy their remaining stake in an intraocular lens plant, citing losses and what it says is a Chinese government ban on new investments in Israel since the war
Members of Kibbutz Hanita near Israel’s northern border are demanding $11 million from Ballet Vision, the Chinese fund that controls 80% of the Hanita Lenses plant, accusing it of refusing to exercise an option to purchase the kibbutz’s remaining shares, according to a lawsuit filed in Tel Aviv District Court.
In a response letter attached to the lawsuit, the Chinese fund said that since the outbreak of the war in Israel, Beijing has classified Israel as a “high-risk area” and imposed a ban on any new Chinese investments in the country, making it impossible to carry out the option.
“Since the outbreak of the fighting in Israel, the Chinese government has classified Israel as a high-risk zone (red category) and prohibited any new Chinese investment in the country,” the fund wrote. “As long as this restriction remains in place, there is no practical operational ability to exercise the option.”
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https://www.ynetnews.com/business/article/skeqnl08wg
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