Busi­ness with Canada looks bright: ex­ec­u­tive

China Daily (Canada) - - ACROSS AMERICAS - By EDDY LOK For China Daily

China Daily re­cently in­ter­viewed Jen­nifer Fang, the man­ag­ing di­rec­tor for China Busi­ness Net­work and Strat­egy at Price­wa­ter­house­Coop­ers.

Q: Can you en­lighten us on the state of busi­ness and trade re­la­tions be­tween China and Canada? What are the is­sues, for in­stance, and what are the ar­eas of con­cern? Can you sug­gest the di­rec­tions both sides could and should take to de­velop and grow this re­la­tion­ship?

A: While I was in China the past 10 days, I ad­dressed sim­i­lar ques­tions on our new gov­ern­ment and the im­pli­ca­tions to the Canada-China re­la­tion­ship. I think the new Lib­eral gov­ern­ment and our new PM Justin Trudeau will be pos­i­tive for the Canada- China re­la­tion­ship.

The ma­jor­ity gov­ern­ment will also bring po­lit­i­cal sta­bil­ity for at least the next four years. I ex­pect a se­nior-level visit from China to Canada will take place within Justin’s term, since the last time this took place was Hu Jin­tao’s visit in Canada al­most 10 years ago.

The Chi­nese gov­ern­ment and peo­ple have a fond mem­ory and re­spect for Justin’s fa­ther Pierre Trudeau, who first es­tab­lished the diplo­matic re­la­tion­ship be­tween Canada and China 45 years ago.

There­fore, there is an ex­pec­ta­tion that Justin will lead his new gov­ern­ment and make pos­i­tive con­tri­bu­tions to the Canada-China re­la­tion­ship, too.

Q: With the trade push by the new gov­ern­ment, what can be ex­pected be­tween the two coun­tries on in­vest­ment, ed­u­ca­tion, tourism, tech­nol­ogy and ex­per­tise, and even peo­ple-to-peo­ple and gov­ern­ment-to-gov­ern­ment re­la­tions?

A: Al­though China’s econ­omy is go­ing through some re­struc­tur­ing and is no longer grow­ing at dou­bledigit speed, an av­er­age of 6.5 per­cent an­nual GDP growth plus its emerg­ing mid­dle class still present huge po­ten­tial and op­por­tu­ni­ties to the world. There are many com­ple­men­tary as­pects be­tween the Cana­dian econ­omy and Chi­nese mar­ket.

We have seen the grow­ing trend of Chi­nese cap­i­tal in­vest­ing out­bound in re­cent years, and this trend will no doubt con­tinue and grow stronger in the next years.

Be­sides the tra­di­tional Cana­dian eco­nomic pil­lar sec­tors such as min­ing and en­ergy, there are other in­dus­tries or sec­tors that will at­tract two-way cap­i­tal and busi­ness flows be­tween Canada and China, such as agri­cul­ture and food, real es­tate, leisure and tourism, high-end man­u­fac­tur­ing, clean en­ergy, pharma and life science, and fi­nan­cial ser­vices, etc.

China’s 13th Five-Year-Plan places a lot of em­pha­sis on “in­no­va­tion”, which will open up lots of col­lab­o­ra­tion op­por­tu­ni­ties for the Cana­dian IT sec­tor, uni­ver­si­ties and in­cu­ba­tion hubs, as well as ma­jor mu­nic­i­pal­i­ties.

Jen­nifer Fang, man­ag­ing di­rec­tor, China Busi­ness Net­work andS­trat­egy, Price­wa­ter­house­Coop­ers

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