Canadian Government Extends an "Olive Branch" to Chinese Enterprises

2014-01-23 651 0人评论
       In recent years, the rapidly growing economic and trade relations between China and Canada have laid a solid foundation for companies like Huawei to take a leading position in Canada's communications industry. In 2012, two-way merchandise trade between Ontario alone and China reached CAD 29 billion. In the same year, China's direct investment in Canada reached USD 12 billion. Although Canada's investment in China is not as high as China's investment in Canada, its 2012 investment rose by 10% compared with 2010.

    It must be said that the growing number of Chinese enterprises investing in Canada, especially in Ontario, is to a considerable extent attributable to the tireless efforts of the Ontario provincial government. "Over the past five years, Huawei has provided 147 jobs for local residents in Canada and invested CAD 80 million in scientific research, and as a result received a CAD 6.5 million grant from the Ontario provincial government," ScoreBrand noted. "Although the Ontario provincial government does not have any special preferential policies for us, government officials also help us expand our business in order to attract more investment. Huawei's presence in Canada can attract more Chinese technology companies to invest here."

    In the face of investment from different types of enterprises, Ontario also has its own positioning and development direction. Jessica Wu said: "Although the Ontario provincial government welcomes all kinds of Chinese enterprises, it will focus on supporting enterprises with relatively high technological content, especially advanced manufacturing such as aerospace, healthcare and chemicals, and in these industries, the entry of just one enterprise into Canada may drive the development of the entire industrial chain." To support corporate scientific research, Canada has the world's most generous R&D tax credit policy, with a research and development cost advantage 9.1 percentage points higher than that of the United States.

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