Champagne concludes China visit focused on trade, financial cooperation

Finance Minister François-Philippe Champagne has wrapped up a visit to China aimed at strengthening economic ties and expanding trade and financial cooperation between the two countries.

The April 3 trip included meetings with senior Chinese officials and business leaders, as Canada continues efforts to diversify trade relationships and maintain engagement with its second-largest trading partner.

Champagne was joined by Tiff Macklem, governor of the Bank of Canada, and Peter Routledge, head of the Office of the Superintendent of Financial Institutions, along with representatives from Canadian businesses and financial institutions.

During the visit, Champagne met with Chinese Vice Premier He Lifeng to discuss global economic conditions and bilateral trade. Both sides expressed interest in increasing two-way trade and investment, including in financial services.

The minister also held talks with Chinese Finance Minister Lan Fo’an on areas of shared economic priorities and international cooperation.

A key outcome of the visit was the signing of a joint statement between Champagne and Pan Gongsheng, governor of the People's Bank of China, to establish a Canada–China Financial Working Group. The initiative is part of a broader economic and trade cooperation roadmap agreed to earlier this year.

Champagne also met with Canadian companies operating in China and held discussions with Chinese business leaders, including representatives from China National Offshore Oil Corporation and Agricultural Bank of China.

The visit follows a trip to China by Prime Minister Mark Carney in January, which both countries have described as part of ongoing efforts to stabilize and develop bilateral relations.

Before concluding the trip, Champagne invited Vice Premier He to visit Canada later this year to continue discussions under an economic and financial dialogue framework.