China Information

Sunday, January 14, 2007

Canada's Treasury Secretary visits China to pave the way for Canadian banks' entry to the Chinese market

Following Emerson's visit to China in January, Canadian Treasury Secretary will visit China soon. Federal Treasury Secretary Flaherty noted that the purpose of this visit to China is to strengthen the trade relationship between the two countries, and more importantly is to boost the cooperation in the finance area, encourage bidirectional investment, and facilitate Canadian financial institutions to enter the Chinese market.He thinks that Canada should set up more financial institutions in China to provide backup service for their investment.At present, Canada's Royal Bank, Scotiabank and BMO Bank of Montreal have opened branches in China. Flaherty hoped that his visit will help to expand business scope of these banking financial institutions.Flaherty will stay in China for seven days starting from January 16. He will also visit Shanghai on top of Beijing.

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