Seven facts you probably didn't know about China’s trade with Canada

Today Canadian Prime Minister Justin Trudeau begins his official state visit to China. Spending a week in the world’s second largest economy, he is likely to discuss how the two countries can increase business links and improve trade.

According to analysis from the South China Morning Post and others, it is unlikely that the countries will sign a Free Trade Agreement (FTA) and will probably opt for a more varied approach.

It is also likely that China and Canada will review the Canada-China Economic Complementarities Study, according to Asia Pacific Foundation CEO Stewart Beck. The study worked to assess and evaluate any potential benefits of deepening the two countries’ bilateral trade.

Without further ado, here are seven facts you may not have known about China’s trade with Canada:

1. The value of two-way merchandise trade between China and Canada was $85.8 billion in 2015

2. Two-way merchandise trade between China and Canada increased by 10.1 percent from 2014-15

3. Canada’s total merchandise trade with China represents 8.1 percent of its entire trade total

4. Canada’s two way Foreign Direct Investment (FDI) in China was worth $33 billion in 2015

5. In 2015 there were 120,000 Chinese students enrolled in Canadian universities

6. Electrical machinery and equipment was China’s top export to Canada in 2015 - which makes up almost 25 percent of Canada’s imports from the country

7. China’s top import from Canada in 2015 consisted of wood pulp, paper and paper scraps, which accounted for just over 17 percent of all Canadian imports

Trudeau’s official visit to China will include stops in Beijing, Shanghai, Hangzhou and Hong Kong; he will also meet with Chinese Premier Li Keqiang ahead of the G-20 summit.

Read the August issue of Business Review Australia & Asia.

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SOURCE: [South China Morning Post; Asia Pacific Foundation of Canada


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