Canada the lead country in the world for Chinese outward bound direct investment
Hong Kong, China, April 15, 2013 - Recognizing the growing importance of Chinese outbound investment into Canada, this week the Consider Canada City Alliance Inc. is embarking on a three-city investment mission in the Asian country that the OECD predicts will be home to the world’s largest economy as soon as 2016.
Canada is now 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. A $15-billion purchase by Chinese oil giant CNOOC of Nexen Inc. propelled Canada into the number one spot for Chinese investment, bringing the total to $21.3 billion in 2012 outpacing the second place U.S. by $7 billion and more than double the amount invested in Australia.
Outside the natural resources sector, Chinese firms have also expressed a strong interest in investing in Canadian companies in the renewable energy, information and communication technology, food processing, pharmaceuticals and natural medicine, and advanced manufacturing sectors.
“China’s insatiable demand for natural resources is accompanied by similar demand for innovation, and we are showcasing more than 100 specific projects from Canada’s large cities,” says Bruce Graham, Chairman of the Consider Canada City Alliance and President and CEO of Calgary Economic Development. “We have scheduled more than 250 meetings with Chinese investors looking to expand into Canada.”
31 representatives from 10 Canadian cities including Toronto, Montréal, Vancouver, Ottawa, Calgary, Halifax, Québec City, Winnipeg, Waterloo Region and Saskatoon are participating in the three-city Chinese investment mission to Hong Kong, Shēnzhèn and Beijing. Working with partners from Invest in Canada and the Department of Foreign Affairs and International Trade Canada (DFAIT), the Canadian cities are making presentations to qualified Chinese companies and government organizations at China-Canada Investment Opportunities seminars.
On April 17th and 18th, the Consider Canada City Alliance is also participating at the 7th Chinese Enterprises Outbound Investment Conference in Beijing arranged by Invest in Canada and the Canada-China Business Council. The conference attracts approximately 1,200 attendees and is supported by a variety of important Chinese Ministries, including the National Development and Reform Commission, Ministry of Foreign Affairs, Ministry of Finance, and Ministry of Commerce.
Since the global financial crisis of 2008, China's outbound direct investment has been rising, despite a drop in foreign direct investment worldwide. In 2011 the country became the fifth largest investing nation worldwide in terms of volume. And in the first two months of 2013, China reached a significant tipping point when Chinese investment soared 147% on a year-over-year basis to $18.39 billion, more than foreign direct investment into the country itself.
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.