Not aware of other big Chinese forays into Canada
Reuters Published: Wednesday, August 12, 2009
BEIJING -- Canadian Finance Minister Jim Flaherty on Wednesday described recent positive economic signs as encouraging but tentative.
Speaking to reporters after three days of meetings in Beijing, Flaherty said he welcomed Chinese direct investment in Canada but had not been made aware that China Investment Corp. was considering other big forays into Canada.
CIC, China's $300-billion sovereign wealth fund, agreed last month to acquire a 17.2% equity stake in Canadian miner Teck Resources for $1.74-billion.
Flaherty, who last week raised the possibility of policy makers' intervening in the currency market if the Canadian dollar's sharp rise put the country's fragile economic recovery at risk, said he has always expressed concerns about rapid fluctuations in the Canadian dollar.
© Thomson Reuters 2009
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