According to Guangzhou Municipal Commission of Commerce, Guangzhou Municipal Commercial Delegation attended the China(Guangdong)-Canada (British Columbia) Economic and Trade Cooperation Exchange held in Vancouver Convention Centre on the morning of May 9 local time and made a theme promotion. It is said that Guangzhou pooled 13 economic projects involving sci-tech innovation, energy, Internet, automobile, education, trade and other sectors for the field signing ceremony with total investment of $3.2 billion.

 

The Economic and Trade Cooperation Exchange was sponsored by Guangdong Provincial Government and undertaken by Guangzhou Municipal Government and Guangdong Provincial Commercial Department. Nearly 400 representatives from Canadian commercial chambers, associations, and enterprises in E-business, energy-saving, environmental protection and high-tech sectors attended the meeting.

 

At the theme promotion, Guangzhou municipal delegation said that Guangzhou and Canada have close economic and trade cooperation, and Guangzhou’s construction of “thee centers and one system” and three strategic hubs will offer broader cooperation space for both sides. Suggestions concerning four aspects on comprehensively deepening cooperation between Guangzhou and Canada are presented: first, strengthening urban construction exchanges and cooperation; second, intensifying industrial cooperation efforts; third, expanding bidirectional trade and investment; and fourth, strengthening ports and logistics cooperation.

 

Guangzhou pooled 13 economic projects involving sci-tech innovation, energy, Internet, automobile, education, trade and other sectors for the field signing ceremony with total investment of $3.2 billion, accounting for above 80% of the total signed value at the meeting.  Guangzhou Municipal Commission of Commerce also organized the bidirectional investment and sci-tech innovation roundtable during the event. Xiao Zhenyu, director-general of Guangzhou Municipal Commission of Commerce, introduced Guangzhou’s charm, advantages and future as an innovation and startup city as well as Guangzhou’s incentive policies for enterprises, good startup and innovation environment. Enterprises of Guangzhou and Canada made field exchanges and reached some preliminary cooperation intentions at the meeting.

 

It is learned that the economic and trade relationship between Guangzhou and Canada has kept on rising since the Foreign Investment Promotion and Protection Agreement (FIPA) between Canada and China came into force in October, 2014. In 2015, the total imports and exports between Guangzhou and Canada hit 6.5 billion yuan, the same with that in the previous year, including imports of 2.41 billion yuan, up 7.4% year on year despite of the disadvantageous situation. By this March, Canada had set up 269 direct investment enterprises in Guangzhou with contracted foreign investment of $454 million and paid-in foreign investment of $171 million. Between January and March this year, the verified total project investment in Canada of Guangzhou enterprises reached $118 million, higher than the sum of investment in all previous years.

 

Source: Translated by Invest Guangzhou, May 12, 2016