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Speech by Chargé d'affaires Wang Wentian at Ceremony of 5th Canada China Business Excellence Awards

Mr. Peter Kruyt, Chairof CCBC

Mr.Graham Shants, New President of CCBC

Dear friends, Ladies and Gentlemen,

I am honored to be here today for the ceremony of the 5th Canada China Business Excellence Awards.

First of all, I would like to offer my warmest congratulations to winners of these prestigious awards. You have taken a leading role in promoting China Canada business cooperation. Thank you for your extraordinary contributions. I believe that your stories will inspire many more organizations, who will follow your good examples.

I would also like to congratulate Ambassador Graham Shants on your assumption of the new responsibilities as the President of CCBC. Thank you very much for your great contributions you have made for our bilateral relations at your past posts. We are sure that under your wisdom and guidance, CCBC will strive to much greater heights and achievements and make more contributions to China Canada economic and trade cooperation. I wish you every success in your new duties.

Dear Friends,

The year 2016 is a historic and extraordinary year for China and Canada. The exchange of visits by Premier Li Keqiang and Prime Minister Justin Trudeau in September has inputted great impetus to our bilateral ties. I am happy to say that China Canada relationship has received a very good momentum of development in all aspects.

Since most of you are from business circle, my speech will mainly focus on bilateral economic and trade relations. Now, let's review together the main outcomes of the two high level visits in the field of economic and trade.

Our two sides agreed to upgrade the Economic and Financial Strategic Dialogue to Vice Premier level, which will be held in the second quarter of 2017.

Our two sides agreed to expand the scale of bilateral trade and set a goal of doubling the bilateral trade volume by the year 2025 on the basis of 2015 statistics.

Our two sides agreed to launch exploratory discussions on China-Canada FTA , which will be held early next year in Beijing.

Our two sides agreed to develop cooperation in third-party markets, which will create more opportunities of cooperation for enterprises of both countries in combining China's production capacity with advanced Canadian technology to achieve mutual benefit and a win-win situation.

Our two sides agreed to strengthen financial co-operation. As you know, several days ago, National Bank of Canada (NBC) has issued a 3.5 billion Chinese yuan panda bond, being the first North American financial institution to do so. BMO became one of the first market makers for direct trading between Chinese yuan and Canadian dollar in the inter-bank foreign exchange market.

The two sides signed multiple agreements on trade statistics, aviation, agriculture, consumer goods safety, customs and etc. Dozens of business agreements were signed, which amounted to a total of 7.2 billion Canadian dollars.

According to the latest statistics, Chinese investment to Canada has amounted to 61 billion US dollars by the end of October, which will directly create ten thousand jobs for Canada. About 650 thousand Chinese tourists will visit Canada in 2016, a 32% increase than the year before and they will bring 1.5 billion Canadian dollars income for Canada.

Dear friends,

Canada and China are both trading nations. Our leaders have had set a new goal for us to double the bilateral trade volume within ten years. No doubt, the realization of this new goal fully depends on the success of business people like you. In the meantime, we definitely need a FTA in this regard. Especially when the trend of trade protectionism and anti-globalization are growing in the current world, when TPP and NAFTA are facing an uncertain future, a bilateral FTA not only facilitates the expansion of our economic and trade cooperation but also sends a clear signal of promoting trade liberalization and investment facilitation to the international community.

Ladies and Gentlemen,

let us consider for a moment the latest economic development in China. While still facing many challenges, China will continue to be an important engine of global economic growth and business opportunities. China's economy in the third quarter, not only extended growth momentum in the first half, but showed many positive changes. Key economic indicators such as factory output, profits and investment have rebounded. China will be able to achieve its main economic targets this year and maintain medium- to high-speed growth. With further development, China will open up its door more widely to the outside world and its investment environment will be better and better.

China welcomes Canadian enterprises to invest in China and enlarge cooperation in areas including finance, energy, civil aviation, telecommunication, environmental protection and winter sports.

At the same time, China encourages Chinese enterprises to invest in Canada and participate in cooperation in infrastructure, energy and minerals, agriculture, service industry and other fields. It is hoped that Canada can support enterprises of both sides to establish international cooperation in accordance with marketization principles and business practices.

Ladies and Gentlemen,

When talking about our bilateral economic and trade relations, we should never forget the contributions of CCBC. CCBC has done great work in 2016. In my view, two things stick out. First, the 6th Canada China Business Forum was successfully held in Montreal during Premier Li Keqiang's visit to Canada. Second, the 38th Annual AGM & Policy Conference was held in Shanghai which was addressed by Prime Minister Justin Trudeau during his visit to China. These two events greatly enriched the two important visits. In this regard, the board of director of CCBC, especially the executive director, Mrs. Sarah Kutulakos should be given a big round of applause.

To conclude, I would like to convey my heartfelt thanks to the CCBC for hosting this meaningful and significant event. And once again congratulations to the awards winners.

Thank you .

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