| Visit of Chinese Premier Promoting Sino-Canadian Economic Co-operation (April 17, 1999) |
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| 2003/10/13 |
The ongoing visit of Premier Zhu Rongji to Canada will inevitably yield positive influence on the development of bilateral economic and trade co-operation.
Chinese Government and enterprises attach great importance to promoting the sustainable and healthy development of bilateral economic and trade ties.
They have taken a series of positive measures to expand the co-operation in recent years in such sectors as agriculture, energy, transportation, telecommunication, machinery, electronics, environmental protection and high-tech industry.
In the past few days, a series of agreements have been signed.
Two governments signed the environmental co-operation action plan, three protocols on quarantine and health requirements for swine semen, swine embryos and bovine embryos which are to be exported from Canada to China.
China National Petroleum Corp and the Provincial Government of Alberta signed the agreement on management and operation of Sino-Canadian Petroleum Centre, which is established to exchange technology and train staffs in petroleum and environmental protection sectors.
Relevant government department of China has authorized the Sunlife Insurance Corp of Canada to open its business offices in China.
The Chinese Government has also decided to develop the CDMA-typed mobile telecommunication, which creates more favorable conditions for telecommunication companies from both Canada and other countries to enter the huge China telecommunication equipment market.
The total value of commercial contracts and agreements signed during Zhu's visit will surpass US$ 400 million.
Major contracts include the import of Canadian potash fertilizer by China National Chemical Import and Export Corp, the import of 500,000 tons of Canadian wheat by China National Cereal, Oils and Food Stuffs Corp, the purchases of three Desh 8-400 passenger planes by China Chang'an Airlines, the import of telecommunication equipment China Unicom from the Ottawa-based Nortel company and the co-operation agreement between Guangdong Provincial Telecommunication Bureau and Nortel company.
Economic co-operation between China and Canada are strongly complementary and mutually beneficial. China can get advanced technology, equipment and management experience from Canada, while Canada will be rewarded with high economic efficiency in the huge Chinese market.
The trade volume between China and Canada totalled US$ 4.3 6 billion last year, up 11. 5 per cent over the previous year. By the end of 1998, there were over 4, 000 Canada-invested projects in China, with the total contractual investment of US$ 6.4 billion. (end)
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