Tech is springboard for Hungary, Israel

Many countries have seized opportunities at the first China International Import Expo in Shanghai to pursue innovative growth with China.

Some of the nine contracts signed by Hungary and China so far, for example, are in innovation-related sectors, Laszlo Palkovics, Hungary's minister of innovation and technology, said on Thursday.

It's important for countries to work together in innovation because people with different perspectives around the world can help to design much more useful cutting-edge technologies to deal with the challenges that all people are facing, Palkovics said. "Also, technology can be developed much quicker if people cooperate."