Last year Israeli set up China Israel Synergy Group, an international investment and cooperation advisory company whose aim is to promote investments between China and Israeli technology and innovation companies.

Working both in China and Israel, Yaar says: "I want to create a means for Chinese medical enterprises and Israeli high-tech companies to explore international markets."

He says his research shows that Chinese companies have huge advantages in their manufacturing capability, high-quality workforce, and wide clinical research base, while Israeli companies, especially some small and medium-sized ones, enjoy cutting edge research and development ability, and financial strength.

"By bringing Israeli technology, to be produced in China by local companies, we can help promote products, including pharmaceuticals and medical devices, to the international market.

"The combination will provide technological expertise at competitive prices," he said, adding that any profit will be used to fund further R&D by Israeli companies, and expand manufacturing activities within China.

"We are now undergoing administrative procedures in China and can officially open we hope, within months."

Another recent high-profile contract signing between Chinese and international partners involved Life Technologies Corp, the US-based global biotechnology leader, and Sino Biological Inc, the leading Chinese biotech company.

The two have agreed to a partnership for worldwide product distribution and development.

Life Technologies will distribute Sino's large portfolio of recombinant proteins, antibodies and other products using its global distribution channels in more than 160 nations and regions.

The two companies will also jointly develop new products, using various research and development assets to introduce innovative products more quickly.

In a statement, the firms said that by working with one another, the companies are well positioned to provide proteomics products to a global customer base, and as two of the leading life science brands in China, contribute to accelerating the expansion of the Chinese biotech industry.

The agreement is believed to be the first by a US-based company, aimed at helping its Chinese counterpart not only to sell products, but also build its brands globally.

Proteins and antibodies are the fundamental means employed by pharmaceutical researchers and academic scientists to aid the discovery of new therapeutic targets in the process of new drug development.

According to Gregory T. Lucier, chairman and CEO of Life Technologies, all the products involved - more than 6,000 human-derived proteins and antibodies - are to be sold under the brands of Sino Biological and Life Technologies.

"We will first sell Sino Biological's products in the United States, then expand to Europe and South America," said Lucier.

Related readings:

China's pharmaceutical industry to hit 10t yuan

Sales in pharmaceutical distribution sector up 23%

China beefs up pharmaceutical regulation

New rules on pharmaceutical excipients to stem malpractice