On Oct. 22, 1995, the Agreement between the Government of the People's Republic of China and the Government of the State of Israel  on establishing the Israeli – Chinese Fund for Scientific and Strategic Research and Development was signed.  

   Each side has contributed USD 2.5 million to the capital of the Fund. The interest earned on the investment of the capital of the Fund is used to promote and fund scientific and strategic research and development projects of interest to both countries.

   In Jan. 1997, The Sino-Israeli Fund for Scientific and Strategic Research and Development begin to support the cooperation projects. The 1st round cooperative projects under the Jiont Fund were approved through the 2nd session of the Chinese - Israeli Jiont Committee on Scientific Cooperation. 4 of the cooperative projects, which were focused on agricultural biotechnology and advanced materials fields were finallycelected and approved.

   In Dec. 1999, The 3rd session of the Sino – Israeli Joint Committee on Scientific Cooperation took place in Jerusalem and 6 cooperative projects focusing on water resource management and bio – medicine engineering were approved.
 
   In Nov. 2001, The 3rd round cooperative projects under the Joint Fund, which were mainly focused on advanced materials and their uses in devices for telecommunication, optical data storage & space technology fields, were approved by the 4th session of the Sino – Israeli Joint Committee on Scientific Cooperation.