Canada’s LNG industry expects greater demand from China

VANCOUVER, Feb. 25, (Xinhua) — The liquefied natural gas (LNG) industry in Canada on Monday projected greater demand from China over the next several years, which could provide huge business opportunities for British Columbia (BC), a province with abundant natural gas deposits in western Canada.

Steve Swaffield, acting president of BG Canada, a global gas company headquartered in Britain, said the LNG industry is excited about soaring demand from China as energy consumption in the country is shifting from coal to cleaner energy sources.

“China has some very strong aspirations in the growth of the clean energy business. And the economy in China is growing rapidly,” Swaffield told a press briefing Monday.

“So the projections are the LNG could be as much as 7 or 8 percent of their overall natural gas needs and usages now and that could double over the next 10 years,” he said…

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Luncheon Presentation by The Honourable John Baird, Minister of Foreign Affairs, Canada

The Canadian Government is leading the most ambitious trade agenda in its history and has made its relations with Asia a top foreign policy priority. Canada, in the last six years, has concluded nine Free Trade Agreements and is pursuing agreements with India, Japan and South Korea.

EVENT DETAILS

13 March 2013

12:30pm – 2:00pm

9 Justice Drive, Admiralty, Hong Kong

To register please click here.

 

 

Dedicated to all Entrepreneurs, Start-ups, Small/Micro-businesses Vol. 9: the Chamber Magazine

“Starting Out: Bringing Forth the Inner Entrepreneur”! – EXCHANGE MAGAZINE.

This issue is dedicated to all Entrepreneurs, Start-ups, Small/Micro Businesses, Investors and SMEs.

 Click here to view a copy of the current issue of the Chamber Magazine:

 http://cancham.wordpress.com/2013/02/25/share-the-current-issue-of-exchange-hong-kong-vol-9-the-chamber-magazine/

 

Exchange Magazine – Issue 9 http://bit.ly/Wnuece

Hong Kong secures No.1 ranking in Globalization Index for third consecutive year

Tops global rankings in capital, technology and ideas exchange, cultural integration

Hong Kong, 25 February 2013 – Hong Kong continues to lead the Globalization Index, ranking first among 60 largest economies in the world for the third consecutive year, according to the Ernst & Young’s  annual globalization report, “Looking beyond the obvious: globalization and new opportunities for growth” (click below for 2012 rankings of all economies).

The report draws on two sources of original research: Ernst & Young’s Globalization Index, which measures the world’s largest economies according to their degree of globalization relative to their Gross Domestic Product (GDP), and a survey of 730 senior business executives worldwide, conducted in late 2012, canvassing their opinion on globalization. The Index is based on a comprehensive coverage of the key drivers for globalization across five main pillars: openness to trade, capital flows, exchange of technology and ideas, labor movements and cultural integration.

For 2012, Hong Kong achieved an overall score of 7.81, where much of its success is due to an increase in broadband penetration and in internet subscriptions. Overall, the market has experienced outstanding performances in comparison to the index average in all categories (8.89 for cultural integration; 8.46 for capital flows; 8.54 for exchange of technology and ideas and 8.27 for openness to trade), but has decreased in labor movements (4.81) due to a significant fall in the net migration rate between 2011 and 2012 (from 17 per 1,000 people to 7.9).

“Once again, Hong Kong has topped the Globalization Index ranking given its main strength in the exchange of technology and ideas – which ranks head and shoulders over other markets within the survey,” says Agnes Chan, Regional Managing Partner, Hong Kong and Macau, Ernst & Young…

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China Replaces UK As Canada’s No. 2 Trade Partner

China replaced the U.K. as Canada’s number two trade export destination as its returns from goods exported to China was $19.3 billion while its returns from goods exported to U.K. was only $18.6 billion last year.

“Canadian goods exports to China surged 15 per cent last year to $19.3-billion, paced by a near-doubling of canola seed and canola oil shipments,” the Globe and Mail reported citing a trade figure released by Harper’s government.

According to the trade figure, Canada’s exports to U.K. fell down nearly one percent to $18.6 billion.

While Canada’s overall export fell down nearly one percent, Canada’s exports to China have almost doubled between 2008 and 2012.

“In a big-picture sense, it’s just an inevitable reality that as China becomes larger, it would overtake the Old World,” the news paper quoted Dan Ciuriak, former deputy chief economist at the Department of Foreign Affairs and International Trade, as saying.

“It was just a question of time,” said Ciuriak.

Saying that Canada’s trade with China is destined to increase, Ciuriak said that China and Canada are natural trading partners...

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Russian leasing company signs deal to buy up to 42 Bombardier CSeries planes

MONTREAL — A Russian leasing company has agreed to purchase up to 42 Bombardier CSeries aircraft in a potential $3.42-billion deal, the aircraft manufacturer announced Wednesday, shortly after it disclosed Transport Canada has certified the plane’s Pratt & Whitney engine.

Ilyushin Finance Co. seeks to acquire 32 of the larger CS300 planes at a list price of about US$2.56 billion, and has options for 10 additional planes, making it one of the largest CSeries orders to date.

The transaction signed Wednesday at Bombardier’s final assembly facility in Mirabel follows a letter of intent signed in 2011 for 30 CSeries planes. The agreement is subject to approval by Ilyushin’s shareholders.

The company’s director general said the aircraft leasing world is rapidly changing as airlines seek to replace older, less efficient planes because of high fuel costs and environmental concerns.

“The CSeries aircraft offers transcontinental range, superior field and runway performance, and a superb cabin that will bring air transport into the 21st century,” Alexander Rubtsov said in a news release…

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Canadian trade minister heading back to China, plans to visit Hong Kong

OTTAWA – The federal trade minister is promoting China as a key market for Canadian technology as that country is being outed as a hacker hotbed.

Ed Fast says he’s headed to China and Japan in April to promote Canadian information communications technology.

In China, Fast will visit three cities, including Shanghai, the home of a military unit linked this week to cyber-espionage activities targeting companies around the globe.

Fast says he’s going to Shanghai in particular because it’s an important area for the development of IT for business and mobile applications.

He’ll also visit Hangzhou and Hong Kong as well as Japan to focus on medical imaging technology, along with business leaders from those industries…

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Chinese, Canadian enterprises urged to enhance cooperation

BEIJING, Feb. 19 (Xinhua) — China’s Vice Premier Li Keqiang on Tuesday encouraged Chinese and Canadian enterprises to strengthen cooperation for mutually-beneficial development.

Li made the remarks as he met with Pierre Beaudoin, president and chief executive officer of Bombardier Inc. Bombardier, headquartered in Montreal, is the world’s only manufacturer of both planes and trains.

Hailing the increasing cooperation between China and Canada, Li said China’s industrial transformation and upgrade, as well as Canada’s developed manufacturing, high-technology and service sectors hold great business opportunities for cooperation.

Li said any insightful entrepreneur can see the opportunities and will not ignore them…

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Bombardier results headed for two-year upswing as aerospace division rebounds

Industry analysts believe the transportation giant is headed for at least two years of upswing primarily from a rebound in its aerospace division.

David Tyerman of Canaccord Genuity forecasts that the company will post “much improved operating earnings in 2013 and especially after 2014 from a rebound in aerospace demand.”

Montreal-based Bombarder is expected to cap 2012 by announcing this week that it earned 10 cents per share in adjusted profits on US$5.04-billion of revenue in the final quarter of the fiscal year, according to analysts polled by Thomson Reuters…

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CNOOC’s bid for Canadian energy firm Nexen clears last major hurdle

US regulators have approved China National Offshore Oil Corporation’s (CNOOC’s) US$15.1 billion bid to buy Nexen Inc, a deal that will be the biggest overseas takeover made by a Chinese company.

The approval from the Committee on Foreign Investment in the United States (CFIUS) means the last major hurdle was cleared, CNOOC, China’s largest offshore oil producer, said in a statement issued yesterday.

Before this, the deal has won approvals from Nexen shareholders, local courts in Canada, the Canadian government, and the National Development and Reform Commission, China’s economic planner.

Progresses of the deal with be publicized at a proper time, the statement said...

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