Canadian Finance Minister Jim Flaherty said sovereign-wealth fund China Investment Corp (CIC) is interested in increasing its investments in Canada, Bloomberg reported. Flaherty, who is exploring business and investment opportunities during a six-day trip to China with Bank of Canada Governor Mark Carney, made the comments after meeting with CIC Chairman Lou Jiwei on Tuesday. Last month, CIC acquired 17% of Teck Resources, Canada’s largest diversified mining company, for US$1.58 billion. Although Canadian rules place limits on investments by foreign state-run entities, Flaherty expressed confidence that there would be no obstacle to future CIC investment in the country, recommending specifically that the fund list shares in Canada or buy stakes in publicly traded companies. Mining, manufacturing and infrastructure were noted as areas of particular interest for CIC.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved