Premier Pitches Ontario To China's Largest Investors
McGuinty Promotes Ontario's Advantage In Financial Services
Premier Dalton McGuinty met today with Chinese financial services leaders and potential investors in Shanghai to promote Ontario's strengths as a global financial centre.
The roundtable meeting featured representatives from both Canadian and Chinese financial institutions including leading commercial banks. The Premier took the opportunity to promote investment in Ontario by highlighting Ontario's strengths and competitiveness in the financial sector.
Moody's Investor Service and the World Economic Forum rate Canada's financial system as the strongest in the world thanks to sound regulations and effective risk management. Most of Canada's leading banks and other financial institutions have their headquarters in Toronto, Ontario.
The Premier later met with the Vice-Mayor of Shanghai, Tang Dengjie, and also delivered remarks at the Chinese Executive Leadership Academy of Pudong. CELAP provides executive training to future government officials and chief executives of state-owned enterprises. The Premier shared his insights and talked about his government's Open Ontario Plan.
- Ontario's financial services sector contributes nine per cent of the province's GDP.
- Shanghai is home to the largest center of commerce, trade and finance in mainland China.
- Toronto is home to five of Canada's largest domestic banks, and to two of the largest 10 global life insurers.
“Canada has weathered the recent global economic crisis better than any other G8 country. A lot of that is thanks to the financial services sector that is centred in Toronto. Chinese investors looking for strong, stable partnerships in North America need look no further than Ontario.”