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Canada-China relations face new opportunities - CCBC president
( 2003-10-16 01:56) (Xinhua)

Howard Balloch, president of the Canada China Business Council (CCBC), said in Beijing Wednesday that Canada-China relations are facing new opportunities with the fast growth of China's economy.

Balloch said the economic ties had gone "beyond trading" into investment and more complex sectors.

"More Canadian companies do significant investment in China today, and also Chinese companies are investing in Canada," he said.

Balloch is in China preparing for the upcoming visit of Canadian Prime Minister Jean Chretien and the 25th anniversary of the CCBC to be held in Beijing.

The former Canadian ambassador to China (1996-2001) has done much to develop Canada-China economic cooperation as well as the ties both in his tenure as ambassador and CCBC president.

"There are a number of very strong Canadian companies investing in China," said Balloch, adding that as China had opened up new opportunities for overseas investors, Canadian companies had entered into more fields, such as automobiles, housing, mining, energy and the service sectors.

Balloch said the CCBC had done a lot to meet the great demand in trade and economic cooperation between Canada and China.

The CCBC has branch offices in Shenzhen, Qingdao, Chengdu and Shenyang to introduce more investment projects to Canadian companies and help Chinese companies to explore markets or list overseas.

The CCBC had also received 50 Chinese member companies in recent years, said Balloch, adding that more Chinese members would be welcomed.

He said economic and political ties were "excellent", and bilateral trade and economic cooperation was "mature". The CCBC would do its best to boost friendly ties.

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