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Ambassador Zhang Junsai Delivered Speech at the Luncheon Hosted by McCarthy Tetrault LLP

On June 5, H.E. Mr. Zhang Junsai, Ambassador Zhang Junsai of the People's Republic of China to Canada, attended the luncheon hosted by McCarthy Tetrault LLP, one of Canada's top-tier law firms, in Toronto and delivered a speech on China's economy and China-Canada trade and economic cooperation.

Ambassador Zhang elaborated on the current economic situation of China and pointed out that despite a moderate slowdown in the first quarter this year, China's economy still showed signs of stable growth, which is encouraging particularly against the fragile recovery of the world economy. He stressed that the trend of China's economic growth in the long term will continue as the fundamental driving forces for growth such as urbanization, industrialization and market-based reforms remain unchanged and the Chinese Government is giving priorities to the transformation of mode of economic development and restructuring so as to improve the quality of growth.

Ambassador Zhang encouraged the Canadian business community to seize the opportunities brought about by China's economic development and restructuring, and work together with the Chinese side to optimize the bilateral trade mix, promote two-way investment and deepen cooperation in services sector and R&D.

Following the speech, Ambassador Zhang answered questions from the audience related to trade and investment between China and Canada.

The audience comes from local business and enducation entities including Manulife Financial Corporation, TD Bank Group, Nova Scotia Bank, HSBC Securities (Canada), Deloitte & Touche, KPMG, Xstrada (Canada), York University, Ontario College of Teachers, as well as Chinese enterprises investing and operating in Canada such as Bank of China, China Development Bank, China Jinchuan Resources, etc.

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