After years of trickling into the Maple country, new Chinese investment to Canada surged dramatically last year to a record flow of US$100 million, up 20 times from 2004, according to China's commerce ministry.
China watchers on the Canadian side are hardly surprised by the surge, even though overseas direct investments (ODI) flowing into Canada from China constituted a meagre 1.5 per cent of the overall figure invested around the world by the mainland.
'The sharp rise in Chinese investments is consistent with our research indicating a strong desire by Chinese enterprises to go global,' said Yuen Pau Woo, president and co-chief executive of the Asia Pacific Foundation of Canada.
In September last year, the foundation and the China Council for the Promotion of International Trade published results of a survey that covered 296 Chinese firms. The survey indicated 'that Canada is not among the prime targets for Chinese expansion'.
While 60 per cent of Chinese companies' investment goes to other Asian countries, only 8 per cent of the firms are considering investing in Canada. Canada is likely to account for only 12 per cent to 14 per cent of their future spending.
The past two years, however, have produced a series of events that directed the attention of companies in both economies on cross-country business opportunities.
