Ottawa (Rajeev Sharma): Canada has stepped up efforts to deepen trade and financial cooperation with China, as François-Philippe Champagne wrapped up a multi-day visit to China aimed at strengthening bilateral economic engagement.
The visit, part of Ottawa’s broader strategy to diversify global partnerships, focused on expanding collaboration with one of Canada’s largest trading partners. The minister was accompanied by senior officials including Tiff Macklem and Peter Routledge, along with representatives from major Canadian businesses and financial institutions.
During his stay in Beijing, Champagne held key discussions with Chinese leaders, including Vice Premier He Lifeng. The talks centred on global economic trends and ways to enhance trade and investment flows between the two countries, particularly in the financial services sector.
In a separate meeting, Champagne and China’s Finance Minister Lan Fo’an exchanged views on shared priorities and explored avenues for cooperation at multilateral forums.
A major outcome of the visit was the signing of a joint statement with Pan Gongsheng, paving the way for the creation of a Canada-China Financial Working Group. The initiative is expected to facilitate ongoing dialogue and cooperation in banking, investment and regulatory matters.
The Canadian delegation also engaged with industry stakeholders operating in China. Meetings included discussions with Yu Jin of China National Offshore Oil Corporation and Gu Shu of Agricultural Bank of China, reflecting a focus on both energy and financial sectors.
Officials described the visit as part of a broader push to stabilise and expand economic ties following recent diplomatic engagements, including earlier talks led by Mark Carney. Champagne has also extended an invitation to Chinese counterparts to visit Canada later this year to continue discussions and build on the progress achieved.
The developments signal a renewed effort by both sides to maintain constructive engagement amid evolving global economic dynamics.
