The Canada-China Forum on Trade and Investment Cooperation convened in Toronto this week, marking a significant step in revitalizing economic ties between the two nations. The event featured Ren Hongbin, chairman of the China Council for the Promotion of International Trade, leading a high-level delegation of Chinese businesses across multiple sectors including finance, engineering, logistics, and medical technology.
This gathering represents the most substantial commercial engagement since both countries’ leaders met at recent APEC meetings in South Korea. Ren emphasized that the summit produced “important consensus” and “strategic guidance” for enhancing bilateral relations, coinciding with the 55th anniversary of diplomatic relations and the 20th anniversary of their strategic partnership.
Economic fundamentals demonstrate robust trade activity, with China maintaining its position as Canada’s second-largest trading partner for 22 consecutive years. Bilateral trade reached $93 billion in the previous year, with Canada’s exports to China growing by 6.1% to $46.6 billion—representing Canada’s first trade surplus with China in many years.
Ren outlined opportunities for expanded cooperation in emerging sectors including clean energy, climate initiatives, and technological innovation. He highlighted the “highly complementary resource endowments and economic structures” between the two nations, particularly regarding supply-chain collaboration. The Chinese official extended an invitation for Canadian businesses to participate in the upcoming China International Supply Chain Expo, described as “a globally recognized economic and trade event.”
Bijan Ahmadi, executive director of the Canada China Business Council, noted the changing dynamics in bilateral relations, stating: “We are at a turning point in the bilateral relationship between Canada and China. There are, of course, still challenges and outstanding issues between the two countries that they’re discussing and negotiating. But there are great opportunities, and we’re glad to see these dialogues happening.”
The Chinese business delegation—the first of its kind in seven years—signals improving economic relations. Ahmadi emphasized the complementary nature of both economies: “There are many things that we produce that China wants to buy, and there are things from China that are very beneficial for the Canadian economy.”
Ren expressed confidence in China’s economic trajectory, noting that the country “has consistently contributed around 30 percent to global economic growth” and reported 5.2% GDP growth in the first three quarters of the year. He reaffirmed China’s commitment to high-quality development and continued opening of its markets through recent policy directives.