Canada firms explore China opportunities

China's 15th Five-Year Plan (2026-30) is prompting renewed interest among Canadian businesses as companies reassess opportunities in sectors such as energy, agriculture and advanced technology, speakers at a Toronto business forum said.

The event, hosted by the Canada China Business Council on Wednesday, brought together business leaders and officials to discuss how China's development blueprint could reshape commercial engagement between the two countries.

"We are entering a new phase after several years of uncertainty," said Bijan Ahmadi, executive director and chief operating officer of CCBC. "Companies are once again exploring opportunities and looking more seriously at where engagement, market demand and policy priorities are beginning to align."

Ahmadi said the relationship between Ottawa and Beijing has "shifted" since Canadian Prime Minister Mark Carney formed a government last year, with Canada reengaging China and recalibrating bilateral ties toward a more pragmatic and constructive relationship.

"This engagement has already contributed to stronger trade performance and renewed business confidence," he said.

Luo Weidong, Chinese consul general in Toronto, described the new five-year plan as "a treasure trove of development opportunities in China".

"The plan is not only a growing blueprint for China's economic and social development over the next five years, but also a guiding document that clarifies national strategy, identifies government priorities, and guides and regulates the behavior of market entities," Luo said.

Both Luo and Ahmadi said China and Canada remain economically complementary, with businesses in both countries continuing to seek new areas of cooperation.

According to Ahmadi, three themes in the 15th Five-Year Plan are especially relevant for Canadian businesses: high-quality growth, food and energy security, and stronger domestic consumption.

"These priorities translate into real opportunities," he said. "They reinforce the value of quality, reliability, safety and technical expertise, and the trustworthiness associated with Brand Canada in the Chinese market."

Luo also highlighted energy cooperation as a major area for future growth, adding that China's next development phase would prioritize "the clean and efficient utilization of fossil fuels" while accelerating development of solar, wind, hydrogen and nuclear power.

Deeper engagement

Ahmadi noted Canada's expanding export infrastructure could support deeper engagement with Asian markets, including China.

"Developments such as the Trans Mountain pipeline expansion, LNG Canada and several ongoing and upcoming energy projects are enabling increased flows of crude oil, LNG and LPG to Asia, with China among the leading Asian destinations for Canadian energy products," he said.

He added that China's decarbonization goals are also creating opportunities for Canadian companies specializing in carbon capture, methane reduction and environmental services.

Agriculture and food security emerged as another major focus.

Ahmadi said Chinese demand is increasingly shifting toward "premium, safe, traceable and reliable food products".

"For Canadian producers, this means opportunities to reestablish and expand market access in areas such as canola, seafood, beef, pork, pulses, grains and other high-quality food products," he said.

Ahmadi similarly said demand in China is increasingly shifting toward "trusted and premium products and services".

Luo added that advanced manufacturing and emerging sectors such as quantum technology, aerospace, hydrogen energy and 6G mobile communications could become major new growth drivers.