First Stop on China Mission Leads to More Than $1.2 Billion in New Agreements
New Partnerships Will Also Strengthen Collaboration Among Educational Institutions
Today Premier Kathleen Wynne began her second China trade mission in Nanjing by announcing an estimated $1.2 billion in new agreements.
Menergy Corporation, based in Markham, Ontario, signed four agreements with Chinese companies valued at an estimated $1.1 billion and that will create 80 new jobs in Ontario. The new contracts include commitments to:
- Develop a large data platform with the Jiangsu Branch of China Telecom valued at $10 million
- Build a $300-million regional centralized energy station in China with China Energy Conservation & Environmental Protection Group
- Design and install a $200-million geothermal project in China with Gome Group
- Work together with Shenzhen Das Intellitech to invest $600 million in a regional energy station project in China.
Kingwave Global Inc., in partnership with Jiangsu Yueda Group Co. Ltd., will export Ontario agricultural and health-related products to China through an agreement valued at $20 million.
Ionada Inc. and Jiangsu Yadong International Investment Co. Ltd., announced a $10-million joint venture to manufacture and market marine exhaust gas cleaning systems in China and internationally. The project will create up to 20 high-tech research jobs in Ontario.
Seneca College signed exchange agreements with Jinling Institute of Technology, Suzhou Industrial Park's Institute of Vocational Technology and the Suzhou Erjia Early Childhood Education Program. These agreements will help to create educational and career opportunities for students, and will open doors for new collaborative research projects and professional exchange.
The Premier also joined the Jiangsu-Ontario University Presidents' Alliance in announcing multiple new MOUs that will help Ontario and Jiangsu postsecondary institutions work together.
While in Nanjing, Premier Wynne and the Ontario science and technology delegation participated in the 4th Global R&D Summit to showcase Ontario's strong culture of innovation and discuss how the regions can collaborate on future science and technology projects.
Attracting new investments and helping the province's businesses compete globally is part of the government's plan to build Ontario up by investing in people's talents and skills, making the largest investment in public infrastructure in Ontario's history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
- Delegates travelling with the Ontario mission signed 22 agreements today, which are expected to generate more than $1.2 billion in investments and over 350 jobs for Ontario.
- While in Jiangsu, Premier Wynne joined the Honourable Luo Zhijun, Party Secretary of Jiangsu, in celebrating the 30th anniversary of the Ontario-Jiangsu Friendship Accord. Collaboration under the agreement has helped the two regions attract new investments, encourage tourism, strengthen science and technology collaboration, work together on joint projects and provide businesses with more opportunities to compete internationally.
“My second mission to China is already yielding impressive results for the people and businesses of Ontario. Today’s estimated $1.2 billion in agreements will generate jobs and investments in our province, and the new MOUs in postsecondary education between Ontario and Jiangsu will help our educational institutions share information and work together on new discoveries.”
“This strong start to the China mission is testament to the strength and diversity of Ontario’s economy. We have a broad range of companies that are both experts in their field and adept at building international partnerships. Our government will continue creating the right conditions for these companies to succeed at home while working to open doors internationally.”
“The strength of Ontario’s trading relationship with Jiangsu is the result of 30 years of partnership. The renewal of the Ontario-Jiangsu Friendship Accord represents a significant opportunity to strengthen government-to-government connections and reinforce trade development and investment opportunities that will benefit our province for years to come.”