Ottawa, January 21, 2007
2007-004
Shanghai - The Honourable Jim Flaherty, Minister of Finance, met with
senior political and regulatory officials and business people in Beijing and
Shanghai in order to strengthen Canada's strategic partnership with China.
During his meetings Minister Flaherty discussed ways to build upon the
Canada-China relationship through increased trade and investment.
"The Chinese value the relationship they have with Canada and that was
clear during the many meetings I had over the past several days," said
Minister Flaherty. "Our meetings were very positive as we discussed the
mutual benefits of increased trade and investment in several areas such as
financial services, the energy sector and the development of environmental
technology and energy conservation."
While in China, Minister Flaherty met with:
Chinese Finance Minister Jin Renqing;
Governor of the People's Bank of China, Zhou Xiaochuan;
China's Securities Regulatory Commission Chairman, Shang Fulin;
China's Insurance Regulatory Commission Vice-Chairman, Zhou Yanli;
China's Banking Regulatory Commission Chairman, Liu Mingkang;
National Development Reform Commission Vice Chairman, Chen Deming; and
Canadian executives from the Canadian banks and insurance companies
operating in China.
"I heard firsthand some of the challenges Canadian businesses face in
China with regulations that are applied differently in different regions and
restrictions placed on foreign investment," said Minister Flaherty. "I
raised these and other issues with Chinese officials and we agreed to work
together to eliminate impediments to future expansion in both countries."
The three objectives of Minister Flaherty's visit were as follows:
1. To strengthen our strategic relationship with China and encourage
further discussions on shared economic and financial interests;
2. To support the expansion of bilateral trade and investment,
particularly in the financial services sector; and
3. To encourage access and participation of Canadian financial
institutions in the growing Chinese market for financial services.
"During my short time in China I believe we were able to move the
yardsticks forward on behalf of Canadian families and businesses," said
Minister Flaherty. "It is important that we continue to build upon these
relationships so our countries can advance the dialogue on economic,
financial, corporate social responsibility and environmental issues for
years to come."
Canadian International Trade Minister David Emerson was also meeting with
Chinese officials in Beijing and Shanghai this week. During his stay
Minister Emerson signed the Canada-China Science and Technology Agreement
with China's Minister of Science and Technology, Xu Guanhua.
___________________________________
For further information, media may contact:
Eric Richer
Press Secretary
Office of the Minister of Finance
613-996-7861
David Gamble
Media Relations
Department of Finance
613-996-8080
