Envoy sees rosy future for China, Canada
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.