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Chinese FDI Into Canada Slowing Down

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Chinese FDI Into Canada Slowing Down New marriage Still thriving Stealing the show Chicago’s Chinatown has been Little surprise that Ang Lee Xiaomi joins China Unicorn in livening the South Side since 1912 shines at Shanghai fi lm fest pushing offl ine sales > p18 > IN DEPTH, PAGE 20 > LIFE, PAGE 15 FRIDAY, June 17, 2016 chinadailyusa.com C$1 LEISURE INVESTMENT Chinese FDI into Canada slowing down By NA LI in Toronto electrical products [email protected] and machinery and, to a lesser extent, Chinese foreign direct investment consumer goods. (FDI) into Canada has decreased China’s relative over the past year, said Paul Ferley, importance as a assistant chief economist at the Roy- trading partner al Bank of Canada (RBC), the largest Paul Ferley, varies significantly bank in Canada. assistant chief across the prov- Ferley spoke on Wednesday at a economist of inces, though the briefi ng on the outlook for the US the Royal Bank largest two-way and Canadian economies, and the of Canada fl ow remains British impact of China, with a group of Columbia. Chinese-Canadian media represen- Regarding the tatives and real estate professionals. RMB vs the Canadian dollar, Ferley A cast of colorful characters takes part in a parade at the Shanghai Disney Resort on Wednesday, a day ahead of its grand opening. GEO ERQIANG / CHINA DAILY “Over the past fi ve years, Chinese said that Canadian interest rates are foreign direct investment fl ows into expected to rise slightly in contrast Canada have increased by over $10 with a projected cut in China. billion,” said Ferley. “We are now see- The projected change in interest ing a softening of that, with a slight rates is expected to result in the Chi- Disney Shanghai poised to lure millions decrease from this time last years.” nese yuan depreciating relative to the While Chinese FDI into Canada US dollar, while the Canadian dollar is By WANG ZHUOQIONG and Officer Bob Iger said on Wednes- Tuesday night. start in this regard. has leveled off in dollar terms, Cana- expected to appreciate modestly next SHI JING in Shanghai day that Disney’s fi rst theme park on Iger said the new park has enor- Kelly Ryner, president of Think- dian FDI into China continues to year, which implies sizable deprecia- the Chinese mainland and the sixth mous potential, as it had received well Asia, a US-based theme park rise, Ferley said. tion of the Chinese yuan relative to the Shanghai Disney Resort, which worldwide is designed to be “authen- more than 600,000 visitors during a design company, said, “China is a Ferley also addressed Canada’s Canadian dollar. opens on Thursday, will attract up to tically Disney’’ but also “distinctly month’s trial period ahead of Thurs- huge part of this modern world, and soaring housing market, especially Donna O’Reilly, RBC regional vice- 50 million visitors every year, accord- Chinese”. day’s grand opening. it makes complete sense to import foreign ownership of newly con- president of commercial banking for ing to analysts. Iger said it is important that the “We have plenty of space to quality entertainment. structed condominiums in Toronto Greater Toronto, said that the spe- The influx will result in annual Shanghai park offers “authentic expand, and we will do that sooner “The quality of this park will raise and Vancouver, which have risen cial economic briefing is a way to sales revenue of 40 billion yuan Disney” but ensures that this is done rather than later,” Iger said. the bar and encourage local parks to by 7.4 percent and 6 percent respec- celebrate the strong economic and ($6.06 billion), the analysts from in a way that respects the local cul- The 7 square kilometers that the become better and stronger in their tively since 2010. social bonds between Canada and the Changjiang Securities wrote in a ture and creates a sense of owner- resort occupies has allowed it to own ways.” According to Ferley, China is by Chinese community. report. ship in terms of language, food and invest in more attractions, including Addressing the possibility of long far Canada’s second-largest partner “Our country is shaped by the According to the Shanghai Munici- entertainment. additional facilities. waits for rides at the Shanghai park, in bilateral trade, and is second only more than 1 million people of Chinese pal People’s Government Research He cited the example of Chinese Teng Bingsheng, associate dean she said slow lines during a soft open- to the US in both imports from and descent who have made Canada home Center, the $5.5 billion theme park is acrobats performing in the Disney and associate professor of strate- ing are to be expected at any park exports to China. The volume of over the years,” O’Reilly said. “Wheth- expected to contribute about 0.8 per- musical Tarzan: Call of the Jungle gic management at Cheung Kong and during major holiday periods. trade increased in 2015, due to ris- er it’s serving new Canadians or mem- cent of the city’s GDP this year, which and the fi rst Chinese production of Graduate School of Business, said ing Canadian imports from China. bers of the community who’ve been is estimated to rise by 6.5 percent the Broadway musical The Lion King, Chinese consumers want the best Contact the writer at The top Canadian exports to Chi- here for generations, we’re honoured from 2.5 trillion yuan in 2015. which premiered at the Walt Disney entertainment products, and com- [email protected]. na are resource-based goods, such to have provided fi nancial advice to Walt Disney Co Chief Executive Grand Theatre at the new park on panies such as Disney have a head cn as machinery and equipment. The the Chinese-Canadian community for top Chinese exports to Canada are almost 90 years.” E-COMMERCE In the news Online market fast-tracks seafood to China By EDDY LOK world’s largest seafood market. He said that now China’s customs for China Daily Last year, Gfresh recorded $100 agents detain and inspect 25 to 50 million in trade, Wan said on the per cent of fresh seafood entering Gfresh, one of the world’s largest second day of the 11-day BC Shellfi sh China, which can take up to five online trade platforms, has signed The quickest and and Seafood Festival in Comox, on days and cause fi nancial loss and an agreement with an inspection Vancouver Island. The festival start- reduce the freshness and quality of company to fast track seafood easiest trade route ed on June 9 and ends on June 19. the product when released. exports to China. “When we first thought about China imported about $8.4 bil- The agreement with Certifica- into China yet [for the venture, we wondered why it lion worth of fi sh and seafood from tion and Inspection Group Canada was that there was no online plat- around the world over the last few (CCIC) was signed on June 10 at the Canadian seafood form for buying and selling live sea- years, and an increasing amount 2016 BC Seafood Expo Tradeshow food. It is ridiculous you can move comes from Canada, the sixth-larg- in Courtenay, Vancouver, British exporters].” almost any other type of commodity est supplier of seafood to China, TIBET BUSINESS Columbia. between countries and it just arrives including live oysters, prawns, lob- Tourist boom Takeover looms Gfresh’s CEO and co-founder, Anthony Wan, CEO, Gfresh but you can’t do that with live sea- sters and both fresh and smoked Anthony Wan, said the agree- food,” he said. salmon and other species, according Horseback riding, family inns, shop- Midea Group, one of the leading ment would give Canadian export- CCIC is headquartered in Van- to Statistics Canada. ping for ethnic handicrafts, Tibet has industrial groups in China in consumer ers using the online platform the couver and has offi ces in Toronto, China is British Columbia’s sec- amenities for tourists that are starting appliances, heating, ventilation and “quickest and easiest trade route by reducing the time it takes to get Montreal and Calgary, and it spe- ond most-important seafood market to take off . > p5 air conditioning systems, will likely into China yet’’. seafood from suppliers into China’s cializes in providing inspection and after the US, which has historically announce on Thursday a voluntary The agreement means suppliers booming market. certifi cation services to customers. been the sector’s primary export SHANGHAI takeover bid for Kuka AG, a leading on Gfresh will be given assurances Gfresh was launched in 2014 to Wan said CCIC Canada will market. In 2014, BC exported $981 Nannies to go global supplier of intelligent automa- that their products are passable by connect Canadian sellers of live sea- work with Gfresh to develop pre- million in seafood products to 74 tion solutions, reports say. > p19 customs before leaving their Cana- food directly to more than 2,500 shipment inspection for seafood markets, many in Asia, an increase English-speaking nannies from China dian departure port. It also gives wholesale Asian buyers, mostly in exports, which would expedite and of 10 percent from 2013. are in huge demand, not just at home, Chinese trade partners the quickest China, which has surpassed the lower customs inspection charges but also in foreign countries where Chi- and most direct trade route possible US and the European Union as the in China. SEE “SEAFOOD” PAGE 2 nese families have emigrated to. > p9 ANTI-CORRUPTION wife and Zhou Bin’s stepmother, was to place Zhou Yongkang under investi- corruption.
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