According to a Government of Ontario news release, Ontario can expect C$220 million in Chinese investment following an 11-day trade mission led by the Ontario government. The mission promoted Ontario as an attractive investment jurisdiction through roundtables with over 100 attendees, and promoted Ontario as a business destination in advance of the Ontario 150 Toronto Business Investment Forum.
A Greater Toronto Area green energy incubator run by Menergy Corp. is set to receive the largest investment from this missions, with C$100 million from four Chinese firms under an agreement signed during the trip, while a C$30 million deal to send Ontario food products to Chinese consumers was signed by Wing On New Group Canada Inc. and Americo International Commodity E-Commerce Warehouse. The trip also saw such deals as a C$80 million commercial development deal between the Whanhong Chung Group and HS Nouvel Developments Inc. in Ontario’s York region and C$5 million from COFCO Wines & Spirits Co. Ltd. into Joseph’s Estate Wines’ Ontario ice wine. Canada will also have the first Goubuli Restaurant location following the signing of a C$5 million deal to establish the restaurant in Ontario.
Opportunities for Ontario-China trade are expected to continue, with the Chinese Federation of Overseas Entrepreneurs expressing interest in sending a delegation of 80 entrepreneurs to the province. Ontario also recently drew in an anticipated C$2.5 billion in agreements through its November trade mission. Agri-food product sales to China reached C$832 million in 2014, making China the second-highest export destination for agri-food that year.