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.
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