China welcomes Canadian investors, FM said, weeks after return of Huawei’s Meng
Published: Nov 05, 2021 11:28 PM

Wang Wenbin, Chinese Foreign Ministry spokesperson Photo:

Wang Wenbin, Chinese Foreign Ministry spokesperson Photo:

China welcomes Canadian investors to invest in China, and the essence of China-Canada economic and trade cooperation is mutual benefit and win-win results, the Chinese Foreign Ministry said on Friday, weeks after return of Huawei CFO Meng Wanzhou.

But the Canadian side should meet China half way, and create a favorable political environment for bilateral trade while also offering a fair, open, and non-discriminatory business environment for Chinese firms in the country, said Wang Wenbin, spokesperson for the Foreign Ministry. 

Wang's comment came after two reports were released recently by the Canada-China Business Council, which showed that the economic relationship between Canada and China is a strong bond between the two countries.

One report said that among the Canadian companies interviewed, nearly 70 percent regard China as the primary market or one of the top five target markets in their global development strategy, and more than half plan to expand their business in China. Despite the impact of the epidemic, 49 percent of Canadian companies have achieved profitability in their business in China.

The data shows the confidence and expectations of the Canadian business community in China's economic development prospects and business environment, and also demonstrates the resilience and potential of China-Canada economic and trade cooperation, Wang said. 

Economic and trade cooperation has always been the most active driving force between the two countries, said Chinese Vice Minister of Commerce Wang Shouwen on October 27. He said Meng's return to China tore down the "biggest hurdle" between China and Canada, but it does not mean bilateral ties will resume automatically.

In an interview with the Global Times last month, Canadian Ambassador to China Dominic Barton spoke positively about the bilateral relationship after Meng's release.

"We should be happy that the major issue has been resolved, and that's good," said Barton, stressing that he was positive on bilateral ties even though disputes remain. 

Two-way trade reached $76 billion in 2020, up by 2.5 percent year-on-year, and trade with China accounted for 10 percent of Canada's foreign trade, according to data from Statistics Canada.