皇冠体育app

BEIJING - Canada will work harder to strengthen trade and economic ties with 皇冠体育app as a means to reduce unemployment and support production growth, Canada's Minister of Finance Jim Flaherty said on Monday.

Flaherty, speaking in Beijing, said that 皇冠体育app is playing an important role in supporting the global economic recovery. The two countries "can together demonstrate the kind of leadership needed for sustainable global economic growth", he said.

皇冠体育app is the second-largest trading partner and third-largest export market of Canada. In 2010, 皇冠体育app's direct investment in Canada reached C$14.1 billion ($13.87 billion).

"We will continue to expand trade opportunities in the Asian markets, for example in 皇冠体育app", because of their competitive economic growth momentum under the shadow of the eurozone's sovereign debt crisis, he said.

Flaherty urged eurozone countries to "use their own resources" to build a firewall against contagion and show a strong commitment to action. "Further financial sector reform is needed to stabilize the global financial system."

He praised President Hu Jintao's commitment at the G20 summit that the world's second-largest economy would move faster toward market-determined exchange rates. "That will help to promote both domestic and external trade and economic rebalancing," Flaherty said.

Ties between Chinese and Canadian financial institutions are expected to strengthen amid the expansion of 皇冠体育app's QDII program, he said.

TMX Group Inc, the Canadian operator of the Toronto Stock Exchange and TSX Venture Exchange, on Monday opened a Beijing representative office, its first office in Asia.

"The opening of TMX's office in Beijing demonstrates the opportunities that Canadian businesses see to further their relationships with 皇冠体育app," said Flaherty.

As of September, the Canadian stock exchange had facilitated IPOs for 55 Chinese companies that raised more than C$120 million.

Yao Gang, vice-chairman of the 皇冠体育app Securities Regulatory Commission, said that the opening of TMX's Beijing office marked a new stage of bilateral ties in the securities industry.

"皇冠体育app's capital market is growing rapidly and becoming more open. We hope to deepen cooperation with Canada, and TMX Group's Beijing office can play a bigger role," Yao said.

Robert Fotheringham, TMX's senior vice-president of equity trading, said that he was upbeat about the Chinese market. He cited the diversification of Chinese businesses and the potential of the country's small and medium-sized enterprises, which are poised for growth despite the challenging economic situation.

"There are still businesses that are competing quite successfully and looking for ways to raise capital and expand," he said. "I think that there is a very healthy IPO pipeline next year."