Business Mission to China Yields Nearly $1.9 Billion in New Agreements
Premier Kathleen Wynne concluded her visit to Shenzhen, China today, delivering new agreements between leading Ontario and Chinese partners that will create jobs, fuel economic growth and enhance research collaboration.
In Shenzhen, Premier Wynne met with BYD, the world’s largest electric vehicle manufacturer. BYD is planning a major expansion into the Ontario market with the company’s zero emissions commercial and transit vehicles, including auto assembly and finishing operations.
The Premier also visited the headquarters of Huawei, a leading Chinese tech firm that employs more than 700 people in Ontario. The company is partnering with Seneca College to deliver industry-leading training programs in Huawei Enterprise products and solutions, designed for Canadians. Huawei will also extend its 5G advanced communications research partnership with Carleton University. Finally, Huawei Canada announced it is now a full member of Canada’s Centre of Excellence in Next Generation Networks.
Yesterday, the Premier delivered a keynote speech on the importance of Ontario’s economic and innovation partnerships with China, after a signing ceremony announcing more than $11 million in new investments with the potential to create 52 new jobs in Ontario. The new business agreements include:
- Ontario’s iNano Medical signed a $6 million agreement with China’s Medihealth Limited for iNano to provide vitro diagnostic device technology used in the diagnosis of colorectal cancer
- Futurevic Global Sourcing signed a Memorandum of Understanding with China Titanium Group, valued at $2 million, to research, develop and introduce sewage-treatment projects using Ontario technology and innovation.
The Premier met with representatives of the world’s largest genomics organization, the Beijing Genomics Institute (BGI), to discuss the company’s collaboration with the Lunenfeld-Tanenbaum Research Institute, part of Ontario’s Sinai Health System, on the development of a genomics-based diagnostic test for the early identification of women at risk for pre-term birth and other pregnancy complications.
At Shenzhen Polytechnic, the Premier spoke with its President along with leaders from Humber College and students from both institutions. Together, the students are producing a documentary about Canadian-born comedian Mark Rowswell — who is well known in China as “Dashan.”
Also yesterday, the Premier met with the Mayor of Shenzhen, Chen Rugui, to discuss opportunities for Ontario and Shenzhen to work together in areas important to both regions, including postsecondary education, and water management and technology.
Creating opportunities for Ontario businesses to grow and access new markets is part of Ontario’s plan to create fairness and opportunity during this period of rapid economic change. The plan includes a higher minimum wage and better working conditions, free tuition for hundreds of thousands of students, easier access to affordable child care, and free prescription drugs for everyone under 25 through the biggest expansion of medicare in a generation.
Quick Facts
- Shenzhen has a growing innovation sector, spending over four per cent of GDP on R&D. In April 2017, The Economist profiled the city, referring to it as Silicon Delta.
- Since arriving in China, the Ontario mission has facilitated almost 1,000 business meetings between Ontario and China.
- In total, Premier Wynne’s three business missions to China since 2014 have secured more than $5.6 billion in agreements and created 5,200 Ontario jobs.
- Follow the Premier’s mission to China and Vietnam on Twitter.
Additional Resources
Quotes
“At a time of global change and uncertainty, seeking new opportunities for growth, diversifying trade and strengthening international partnerships are vital to Ontario’s economy. That’s why missions like this one are so important. Connecting Ontario companies with the global market and setting the stage for collaboration is good for their businesses and good for Ontario. The partnerships forged on this mission and my previous two missions to China are proof of how much we can achieve when we work together.”
“China is an important and long-term partner for Ontario in trade development, investment attraction and collaboration in science and technology. Ontario’s diverse and highly skilled workforce is a business and trading advantage that allows us to create products and services for the global marketplace. The successful signings from this mission reinforce Ontario’s position as a top trading economy that will help create more jobs and economic opportunities across our province.”
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