Finance Minister Jim Flaherty says China has an increasing interest in investing in Canada, an opportunity that has partially been built on the reputation of Canada's robust financial institutions.
The finance minister spoke to 麻豆影视 Channel from Beijing, where he and Bank of Canada governor Mark Carney, as well as other government officials and financial executives, are part of a business delegation that arrived in China on the weekend.
Flaherty said many Canadian financial institutions and insurers have established a presence in the Chinese market and have built a solid reputation within the country.
"This is a tremendous market for them, great potential, and they're here with me, meeting with their counterparts here," he said during a phone interview on Monday morning.
"We want to grow their business and they have a great reputation for having been well-regulated and coming through the economic crisis well."
These same banks and insurers have helped increase interest in investing the Canadian market.
"China has a lot of U.S. dollars and would like to invest abroad, so they are looking forward to doing more business with us," Flaherty said.
In turn, Canadian exporters are looking more to markets outside of the U.S. and are seeing a receptive attitude coming out of the Chinese business community.
"There's a willingness on the part of Chinese business to do business with Canada and Canadian enterprises, so we need to encourage that, which we're doing on this mission," Flaherty said.
The finance minister said the Canadian government also wants to build trading relationships with other Asian countries, as part of a larger effort to expand Canada's trading horizons.
Flaherty arrived in China on the weekend. He has so far met with the country's vice premier, finance minister and the chair of its National Development Reform Commission.
So far, Flaherty categorized his trip as "a serious mission that's gone quite well."
The delegation sent to Beijing this past weekend is the most recent example of the Harper government's intention to build stronger ties with China.
Foreign Affairs Minister Lawrence Cannon visited Beijing in May and International Trade Minister Stockwell Day went on a week-long trade mission to China in April.
China's foreign affairs minister, Yang Jiechi, visited Ottawa near the end of last month and was received by Prime Minister Stephen Harper in his office on Parliament Hill.
Prime Minister Stephen Harper will visit China later this year, as will Liberal Leader Michael Ignatieff, who is scheduled to arrive next month.
Harper's trip will be his first visit to China since becoming prime minister in 2006.
With files from 麻豆影视 Channel and The Canadian Press
