En­voy sees rosy fu­ture for China, Canada

China Daily (Canada) - - FRONT PAGE - By DAN­WEI BU in Van­cou­ver For China Daily

Liu Fei, the Chi­nese con­sul gen­eral in Van­cou­ver, ex­pects 2015 to be an “ex­tra­or­di­nary year” for Sino-Canadian re­la­tions.

“The year of 2015 presents the 45th an­niver­sary of the estab­lish­ment of diplo­matic re­la­tions be­tween the two coun­tries and the 10th an­niver­sary of es­tab­lish­ing a strate­gic part­ner­ship,” Liu said at the Con­sulate Gen­eral in Van­cou­ver on Wed­nes­day. “This will be an ex­tra­or­di­nary year for the two coun­tries. The two sides will carry out a se­ries of co­op­er­a­tions and ex­change ac­tiv­i­ties.”

Liu dis­cussed the lat­est de­vel­op­ments in the bi­lat­eral re­la­tion­ship be­tween China and Canada.

She also spoke about trade and in­vest­ment be­tween the two coun­tries, nu­clear en­ergy co­op­er­a­tion and cul­tural ex­changes. China and Canada had a ma­jor eco­nomic devel­op­ment with the estab­lish­ment of the first North Amer­i­can off­shore ren­minbi hub in Toronto and au­tho­rized the China-Canada in­vest­ment pro­tec­tion agree­ment.

The Bank of China set up an In­ter­na­tional Busi­ness Cen­ter in Van­cou­ver on Jan 9, which will play a vi­tal role in pro­mot­ing bi­lat­eral trade and in­vest­ment.

Af­ter re­leas­ing about 2.5 bil­lion ren­minbi in off­shore bonds for the first time in 2013 in Bri­tish Columbia, the Bank of China and HSBC were au­tho­rized to send RMB 3 bil­lion in off­shore bonds in Novem­ber 2014.

With a pop­u­la­tion of more than 1.3 bil­lion, China not only has a huge de­mand for en­ergy, but also agri­cul­tural prod­ucts, tech­nol­ogy and ser­vices. Cher­ries and blue­ber­ries from Bri­tish Columbia, and grape­seed oil and wheat from Al­berta are among the agri­cul­tural prod­ucts that will be ex­ported to China.

“China in­vests nearly $54 bil­lion in Canada, where 90% is in the en­ergy field,” Liu said. “How­ever, en­ergy trade only stands for about 1% in the bi­lat­eral trade vol­ume. Mass po­ten­tial ad­van­tages are yet to be ex­plored.”

Canadian Prime Min­is­ter Stephen Harper made his third trip to China in Novem­ber, where the Chi­nese and the Canadian gov­ern­ment re­leased a Canada-China Joint List of Out­comes that cov­ered 20 co­op­er­a­tion agree­ments val­ued at nearly $2.5 bil­lion.

Liu Fei,

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