Investments to keep fast growth in Canada
BY 2012-04-19 19:41:48
China's investment in Canada is likely to grow at a "record" pace in the near term, building on fast expansion in recent years, the Canada China Business Council said on Wednesday.
"Investments from China will maintain fast growth this year and the near future would see a record growth speed," Sarah Kutulakos, executive director of the CCBC, told China Daily.
The strong financial system, political stability and rich natural resources, including oil sands, iron ore and nickel, enhance Canada's attractiveness for Chinese investors, she said.
"Canada welcomes Chinese investments, especially in the industries of energy, minerals, oil sands and liquefied natural gas, as the investments create jobs and a vibrant Canadian economy and promote technology development," she said.
Lin Ning, deputy director-general of the economic information department of the China Council for the Promotion of International Trade, said that China's investments in Canada will maintain rapid growth because the two economies share strong complementarities in economic structures.
China has become the second-largest trade partner of Canada and the seventh-largest source country of investment. China's investments in Canada surpassed $20 billion in 2011, according to Lin.
China's investments in Canada are concentrated in the fields of energy, mineral resources, agriculture, high-tech and bio-pharmacy. Canada's advantages in these fields offer great cooperation scope for Chinese companies, according to Gary Lee, first secretary of Canada's embassy in China.