09 Dec 2017
(Haaretz News)

Israeli media told today that China’s Singulato and Tencent cancel visits to Israel, as does Japan’s Toyota Foundation, amid Trump’s Jerusalem decision.

Haaretz reports that No longer just rockets from Gaza, but now also a hit to the local economy, as high-tech delegations from Japan and China canceled Thursday their trips to Israel following U.S. President Donald Trump’s recognition of Jerusalem as Israel’s capital.

The Chinese Embassy has issued a formal travel warning, valid until January 10, 2018. China is concerned about the security situation following Trump’s announcement, and expects the conflict to impact its investment programs in Israel.

On Saturday morning, a number of Israeli startups were notified that Shen Haiyin, CEO and founder of the Chinese company Singulato currently developing a miniature electric car, had cancelled his visit just six hours before his flight. Shen was supposed to arrive for a series of meetings with Israeli high-tech companies.

A delegation from Tencent, China’s largest internet company, also cancled their expected visit.

The situation is expected to worsen, as cancellations are not limited only to China. TheMarker was also notified that the Japanese company Toyota’s Fund also canceled its trip to Israel, which had been scheduled for Sunday.

According to estimates, 10-20% of capital for Israel’s high-tech sector comes from China.

On Wednesday 6th of December 2017, Patriarchs and heads of local churches in Jerusalem penned a special letter addressed to U.S. President Donald Trump to express their concern over his intention to recognize Jerusalem as Israel’s capital and possibly relocate the U.S. Embassy from Tel Aviv to Jerusalem.

The letter, sent on Wednesday hours ahead of the expected announcement by Trump, asks the president to walk back on the potential unilateral recognition of the city as solely Israeli. “Our solemn advice and plea is for the United States to continue recognizing the present international status of Jerusalem. Any sudden changes would cause irreparable harm,” the clerics pleaded with the president.