Winnipeg Poised for Increased Trade and Investment from China as Member of Consider Canada Alliance
July 30, 2013: Calgary, AB – In 2012 Canada bumped Australia to become the lead country in the world for Chinese outward-bound direct investment, according to data from the global accounting firm KPMG in a report released in March of 2013. To ensure this momentum continues, nearly 150 Chinese and Canadian business and government leaders are meeting in Calgary today to discuss how to leverage Canada’s large cities to increase investment from China and learn more about China’s investment priorities through its Going Global program. This is one of largest-ever gatherings of Chinese and Canadian investment and business development executives on Canadian soil.
“This is a tremendous opportunity for Canada and its large cities to tell the Chinese about the diverse Canadian opportunities and to hear about the factors that guide Chinese investment decisions,” said Bruce Graham, Chair of the Consider Canada City Alliance Inc. and President & CEO of Calgary Economic Development.
For the first time, the key Chinese government agency for outward-bound investment, the China Council for the Promotion of International Trade (CCPIT) joins with Consider Canada City Alliance Inc. (CCCA) as well as Invest in Canada, the Canada China Chamber of Commerce (CCCC) and Calgary Economic Development to host this investment mission.
Canadian executives will learn first hand from Chinese investors details of the Chinese priorities for investment and the key factors that influence where those investments are made.
The visit to Calgary is the only Canadian stop for the Chinese North American visit and is a direct result of the CCCA’s three-city trade mission to China in April of this year. Today the China Council for the Promotion of International Trade will sign a Memorandum of Understanding to support increased trade and investment between China and Canada using Consider Canada City Alliance members to facilitate this economic activity.
“The fact is that the 11 members of the Consider Canada City Alliance – Toronto, Montréal, Vancouver, Ottawa, Calgary, Edmonton, Halifax, Québec City, Winnipeg, Waterloo Region and Saskatoon – accounted for 72 per cent of GDP growth and 90 per cent of the country’s job growth between 2007 and 2012,” stated Graham. “Our Chinese guests very much appreciate the fact that we can quickly identify the Canadian city or cities best suited to particular sectors and investment objectives, and among economic development representatives, instantly assign a point person to move detailed investment discussions forward.”
“China is becoming Canada’s most important source of foreign direct investment. As of the end of 2012, there are 183 Chinese companies that have invested in Canada a total amount of $43.8 billion US dollars, and these investments create thousands of job opportunities for Canadians." says Wang Lijun, President of the Canada China Chamber of Commerce.
The timing of today’s Calgary meeting is excellent given China’s eagerness to invest outside the country. On July 17, 2013, China’s Ministry of Commerce reported a 29 per cent increase to $45.6 billion in the first six months of 2013 compared to the same period a year ago.
Canada’s attractiveness to foreign capital is also on the rise in stark contrast to other developed countries. The UN Conference on Trade and Development reports that in 2012 Canada was one of just four developed nations to see an increase in inward flows of FDI. Investment money into Canada rose 14 per cent while that same type of investment declined 35 per cent in the U.S. and 36 per cent in Europe.
About the Consider Canada City Alliance
As a united front, Canada’s large cities – Toronto, Montréal, Vancouver, Ottawa, Calgary, Edmonton, Halifax, Québec City, Winnipeg, Waterloo Region and Saskatoon – help international companies determine the best strategies for business expansion and continually improve Canada’s ability to attract new investment and trade opportunities. Started as an informal association of large Canadian cities in 2007 and formally incorporated in 2012, the 11 member cities of the Consider Canada City Alliance represent 54% of Canada’s population, 56% of Canada’s employment, 59% of its GDP, and between 2007 and 2012, 72% of GDP growth and 90% of jobs growth. For more information on the Consider Canada City Alliance, please go to www.considercanada.com or www.canadaentete.com. Both Web sites also contain Chinese-language information, as well as links to Twitter, Facebook and Weibo social media channels.
About Economic Development Winnipeg Inc.
Economic Development Winnipeg Inc. (EDW) is the lead economic development agency for Winnipeg. EDW facilitates investment promotion and attraction, capacity building, tourism development, marketing and the management of market information. By applying competitive intelligence and by fostering relationships with industry leaders, government officials and community stakeholders, potential opportunities and innovation drivers are evaluated to develop key industries and define future economic growth. EDW supports targeted sector development and promotes Winnipeg’s diverse economy and high quality of life.
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Economic Development Winnipeg Inc.