Saturday, June 18, 2016

Chinese provincial delegation seeks more business with B.C.


Chinese provincial delegation seeks more business with B.C.

May 6 2016

Canadian officials met at the Vancouver Convention Centre on Monday with members of a 200-strong delegation from China that included Hu Chunhua, the top Communist official in Guangdong.
Speaking at the conference, Premier Christy Clark confirmed B.C.’s interest in China’s economic development, saying increased trade would be a boost for the province’s clean technology and sustainable environmental practices.
Clark noted that deals such as Squamish’s Woodfibre LNG agreeing to sell liquefied natural gas to Guangdong’s Guangzhou Gas Group are key for both B.C.’s economy and it contribution to fighting climate change.
“For B.C., it means thousands of jobs, and it also means the biggest opportunity that Canada has ever had to contribute to the fight against global climate change,” she said. “Opening up is what enriches us. Building walls, whether it is through tariffs or whether there are physical walls themselves, only closes us off and impoverishes us.”
Earlier Monday, Woodfibre announced the deal with Guangzhou Gas, valued at $11.5 billion by Clark.
Under President Xi Jinping, China has committed to a new regional investment strategy that would rebuild trade routes through southern and central Asia. Chinese officials have said in recent years that Canada and B.C. could participate in this strategy by providing technical expertise.
Hu said he sees B.C. as an ideal target as China tries to integrate into western economies. He said Guangdong wants to invest in Canadian sectors such as engineering, bioscience and finance, as well as environmental innovation.
“If Guangdong is to realize a new level of economic development, we need to open ourselves up even more,” Hu said. “We need to speed up the creation of higher-level systems of open trade and investment exchange, and we want to have that interaction with Canada and B.C.”
Robert Baoguo Chen, founder and chairman of Guangzhou-based PPmoney, said his company (an online provider of wealth-management services) is looking for both investment and market-expansion opportunities in North America through Vancouver.
“We’re at the stage where we should be going out into the world,” Chen said. “The Chinese online transaction rate is four times that in the United States, so we believe we have something very special to offer. We’re going to see if we can take root here in Canada.”
But he also said his impression of Vancouver was not limited to the city’s business potential.
“The weather’s very nice, and the environment is beautiful,” Chen said. “It looks like a great place to live.”