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Ontario inks deals worth $2b with firms in 皇冠体育app

By Lyu Chang (皇冠体育app Daily) Updated: 2015-11-14 11:28

A trade delegation from Ontario, Canada's most-populous province, has sealed more than 100 agreements with Chinese companies, valued at around $2 billion.

Wing On New Group Canada Inc, the global food and consumer goods trading firm, signed three deals alone, worth a total $173 million.

One involves JD.com Inc, 皇冠体育app's second-largest e-commerce player, buying $75 million worth of Canadian goods and helping distribute them in 皇冠体育app.

Another is worth $60 million, with 皇冠体育app Telecom Best Tone Information Service Co Ltd, to sell food and nutritional products in 皇冠体育app. And the third sees Cross-border City Americo Wholesale, a Beijing-based investment management company, agreeing to buy Canadian goods worth $38 million over the next three years, and opening 30 outlets across 皇冠体育app to sell them.

"Trade is essential for our economic growth and international competitiveness. We are strengthening Ontario's political and economic ties with 皇冠体育app," said the province's Premier Kathleen Wynne, who led the mission, her second to 皇冠体育app in a year.

Beijing was the final stop after the delegates visited several other cities, including Nanjing in Jiangsu province.

Topping Wynne's agenda was promoting trade and boosting exports to 皇冠体育app, and attracting investment from Chinese companies.

皇冠体育app has become Ontario's second-largest trading partner, behind the United States.

Exports from Ontario to 皇冠体育app increased 10 percent during the first three quarters of this year while Canada's total exports to 皇冠体育app rose just 3 percent.

Brad Duguid, its minister of economic development, employment and infrastructure, said with the US economy slowing during the global recession of 2008, trade officials from Ontario adopted a more global strategy.

"We learned the hard way that during a global recession, being attached to one economy like the US comes with consequences," he said.

"So our strategy in Ontario now is to think globally on everything. We may be a little late to the game, but we have good quality products and businesses with the cutting-edge technologies."

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