Wynne trip bolstered by $1.7B in new deals with China

Ontario companies get $1.7 billion in new contracts with China during Premier Kathleen Wynne’s trade mission

Thestar.com
Nov. 10, 2015
By Robert Benzie

Ontario companies and educational institutions have inked $1.7 billion in new contracts with China during Premier Kathleen Wynne’s trade mission.

Wynne’s latest Chinese trip has already eclipsed last year’s in terms of the value of deals signed by the Ontario delegation.

In October 2014, 25 provincial businesses and universities secured $966 million of new Chinese investment in Ontario, which the government claims will create 1,795 new jobs here.

“My second mission to China is already yielding impressive results for the people and businesses of Ontario,” Wynne said in a statement.

In Shanghai on Monday, the premier said agreements worth more than $500 million were concluded with Chinese partners.

“The agreements reached in Shanghai will build on our success in the global market by expanding relationships with Chinese scientists, researchers, academics and businesses,” she said.

“Throughout the mission, we will continue to look at ways Ontario and China can create partnerships and learn from each other.”

Among Monday’s deals was a $210 million accord to import Canadian food and nutritional products to China by Wing On New Group Canada Inc.

In a separate agreement worth $50 million, the Markham company will also establish an exhibition centre in China to promote its products and import fresh Ontario produce.

Kinetica, a College Street firm, signed a memorandum of understanding with Shanghai Lead Dynamic Engineering to sell vibration mitigation technology to engineers, architects, and property owners. That could lead to $50 million a year in sales.

A new educational partnership between North York’s Canadian International Academy and Shanghai United Media Group is worth $25 million.

Toronto’s Hospital for Sick Children and the Children’s Hospital of Fudan University have agreed to partner together on neonatology projects.

In Nanjing on Friday, Wynne announced $1.2 billion in new deals with Chinese firms and universities.

Markham’s Menergy Corporation accounted for $1.1 billion of that in four agreements with Chinese partners that will create 80 Ontario jobs.

The geothermal heat pump firm will invest $600 million in one Chinese energy station and build another one for $300 million.

Wynne said Menergy’s agreements “will generate jobs and investments in our province.”

The premier on Tuesday will meet Leung Chun-ying, the controversial Beijing-backed chief executive of Hong Kong.

Before returning home this weekend, she will attend Remembrance Day ceremonies Wednesday in the former British colony at the Sai Wan Bay War Cemetery.

Some 1,975 Canadian soldiers in the Royal Rifles of Canada and the Winnipeg Grenadiers fought to defend Hong Kong against the Japanese invasion in December 1941 - 290 of them dying in battle and another 264 perishing in captivity.

In all, more than 1,050 Canadians were killed or wounded there - one of the country’s highest casualty rates in Second World War theatre of operations.