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China and Canada resumed the China-Canada Economic and Financial Strategic Dialogue in Vancouver. The two sides agreed to expand trade and investment, strengthen financial cooperation and promote the stable development of economic and trade relations through dialogue.
China andCanada Officials held the “China-Canada Economic and Financial Strategic Dialogue” in Vancouver, Canada for the first time in eight years. The two sides agreed to expand two-way trade and investment and deepen financial cooperation. Chinese Vice Premier He Lifeng said China is willing to work with Canada to deepen cooperation in economy, trade, finance, investment and other areas. CanadaMinistry of Finance Changshang Pengfei said that by working together in areas with compatible interests, the two sides can build a stronger and more resilient Canadian economy.
According to People’s Daily,Communist Party of China He Lifeng, member of the Political Bureau and Vice Prime Minister, co-chaired the second China-Canada Economic and Financial Strategic Dialogue with Canadian Finance Minister Champagne-Philippe and International Trade Minister Sidhu in Vancouver, Canada on the 9th.
According to a press release issued by the Canadian Department of Finance, the two sides discussed the importance of continuing to expand two-way trade and investment, and agreed to strengthen cooperation in the financial sector, including access to the financial services market, and to promote exchanges between capital markets authorities and financial regulatory authorities on both sides. Both sides welcome the implementation of the bilateral local currency exchange arrangement.
He Lifeng said the talks are a concrete measure to implement the important consensus reached by the leaders of the two sides. China is willing to work with Canada to deepen cooperation in economy, trade, finance, investment and other fields based on the principles of mutual respect, equality, mutual benefit and seek common ground while taking into account differences, promote the stable and healthy development of China-Canada economic relations, and help build a new strategic partnership between China and Canada.
Champagne said Canada and China have common interests in maintaining open dialogue and promoting economic cooperation. By working together in areas of common interest, both parties can create new opportunities for Canadian businesses and workers and build a stronger, more resilient Canadian economy.
From energy, agri-food to financial services, Canadian companies see big opportunities in the Chinese market, Sidhu said.
Summary FAQ
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This is the second economic and financial strategic dialogue between China and Canada after eight years of hostility. It was co-hosted by He Lifeng, Champagne and Sidhu in Vancouver, Canada, marking the resumption of bilateral economic communications.
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The two sides agreed to continue expanding two-way trade and investment, strengthen market access for financial services, and promote exchanges between the capital markets and financial regulatory authorities of the two countries. They also welcomed the implementation of the bilateral local currency exchange arrangement.
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Ho Lifeng stressed the need to deepen cooperation based on mutual respect, equality and mutual benefit; Champagne believed this could create new opportunities for Canadian companies and workers; Sidhu said that there are huge opportunities for energy, agri-food and financial services industries in the Chinese market.
