China and Canada Photo: VCG

China and Canada will hold the second round of the China-Canada Economic and Financial Strategic Dialogue in Canada on November 9, the Chinese Foreign Ministry (FM) announced on Friday, marking the resumption of the high-level mechanism after eight years amid growing efforts by both countries to deepen economic cooperation and manage trade differences against a backdrop of global uncertainty.

Chinese Vice Premier He Lifeng, also a member of the Political Bureau of the Communist Party of China Central Committee, will co-chair the dialogue with Canadian Minister of Finance and National Revenue Francois-Philippe Champagne and Minister of International Trade Maninder Sidhu, according to the ministry.

The upcoming meeting will be the first under the mechanism since November 12, 2018, when the inaugural dialogue was held in Beijing, producing more than 50 cooperation outcomes covering macroeconomic coordination, global economic governance, trade, investment and finance.

Zhao Xingshu, deputy director of the Department of Canadian Studies at the Institute of American Studies under the Chinese Academy of Social Sciences, told the Global Times on Friday that the resumption of the dialogue represents an important step in implementing the consensus reached by the leaders of the two countries earlier this year.

"Amid growing uncertainty in the global economic and trade environment, the ability of China and Canada to address previous trade frictions through calm and equal-footed dialogue not only helps strengthen bilateral strategic mutual trust, but also injects confidence into global economic and trade cooperation," Zhao said.

The dialogue follows a series of recent diplomatic and economic engagements between the two countries.

During talks between the leaders of China and Canada in January, the two sides agreed to advance the China-Canada new strategic partnership. The two sides also signed an economic and trade cooperation roadmap and reached preliminary arrangements to address trade issues involving electric vehicles (EVs), steel and aluminum products, canola seed, and agricultural and aquatic products.

The upcoming dialogue comes just days after the 29th meeting of the China-Canada Joint Economic and Trade Commission, co-chaired in Beijing on Tuesday by Chinese Commerce Minister Wang Wentao and Sidhu.

At the meeting, Wang called for making full use of the commission as a key channel for resolving trade differences and promoting cooperation, while working to reduce areas of disagreement and expand opportunities for cooperation, according to a statement released by the Ministry of Commerce (MOFCOM) on Wednesday.

The two sides agreed to deepen cooperation in traditional sectors, including energy, agricultural and aquatic products, while exploring opportunities in new materials, advanced manufacturing, clean energy and smart agriculture. They also signed a memorandum of understanding on establishing a business leaders' roundtable.

Sidhu also welcomed greater Chinese investment and business participation in Canada's modern agriculture, manufacturing, financial services and energy sectors, according to MOFCOM.

The two countries agreed to extend favorable market access for Canadian canola meal, peas, lobsters and crabs for another two years, through the end of 2028, according to a statement released by the Canadian government on Wednesday. Canada will also extend existing tariff remission measures for certain Chinese steel and aluminum products not manufactured domestically in Canada for the same period.

China remained Canada's second-largest merchandise trading partner in 2025, after the US. Bilateral goods trade reached $80.39 billion in the first nine months of 2026, up 17.2 percent year-on-year, with China's imports from Canada rising 22.8 percent to $39.53 billion, according to Chinese customs data, underscoring the strong momentum in bilateral trade.

Zhao noted that the two economies remain highly complementary, with agriculture, energy and merchandise trade representing some of Canada's most immediate priorities in cooperation with China, while stressing the need for continued efforts from both sides to maintain close communication.

"Nearly eight years of limited high-level exchanges mean rebuilding mutual understanding between officials and institutions will require time. At this stage, maintaining the momentum of stabilization in bilateral relations is itself an important and realistic objective," Zhao said.