Ottawa, August 5th, 2009
2009-073

Archived - Minister Flaherty and Canadian Financial Industry Executives to Meet With Chinese Officials During Canadian Mission to China

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The Honourable Jim Flaherty, Minister of Finance, will be in China from August 8 to August 14, 2009 to meet with Chinese government officials and business leaders. Minister Flaherty will be accompanied by Bank of Canada Governor Mark Carney, Federal Superintendent of Financial Institutions Julie Dickson, key Canadian government officials and financial industry executives who are looking to strengthen and expand business ties with China.

"The Chinese economy is one of the fastest growing in the world," said Minister Flaherty. "China is looking to Canada because our financial institutions have stood strong during the global financial and economic crisis. The Canadian financial system is a model for success in the post-crisis economic world and Canada is helping to shape the global financial sector architecture going forward."

"Much like Canada, China has managed to escape many of the negative effects of the crisis, and it is clear that our two countries must see how we can continue to work together," added Minister Flaherty. "Not surprisingly, today most of Canada's large financial institutions are active in China and they are looking to expand. The Canadian financial sector is also eager to partner with Chinese companies in their global transactions. We are here to see how China and Canada can continue to cooperate for mutual benefit."

"China is one of Canada's most important trading partners. We share a long and proud history and we are working toward a future that will be beneficial to both countries," concluded Minister Flaherty. "I am confident that these meetings will lead to increased cooperation and business ties between our countries and help speed the economic recovery."

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For further information, media may contact:

Chisholm Pothier
Press Secretary
Office of the Minister of Finance
613-996-7861

David Gamble
Media Relations
Department of Finance
613-996-8080

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