Inventors and entrepreneurs often find it challenging to transform their ideas into success in the marketplace. But now, thanks to a new China-Canada innovation center, just launched in Toronto, entrepreneurs can get that support.
CGTN’s Su Xiaoxiao reports.
The new center is designated to support collaboration between Chinese and Canadian high-tech companies and entrepreneurs. The co-venture was created between Toronto and China’s economic pioneer city, Shenzhen, where a twin innovation center was set up two years ago.
Liu Hengming, CEO of Sci Innovation Center in Shenzhen introduces that the Shenzhen center has attracted more than 10,000 visitors through various large-scale events. And they have helped more than 600 Chinese and Canadian companies to coordinate. His organization also attracted more than 220 Canadian companies to visit Shenzhen.
These achievements mean Canadian businesses can build their profile in the Chinese market. Stefano Picone, director of Finance of Conavi Medical Inc. told CGTN, that his company found that the groups that they spoke to in China were very forward-thinking in terms of wanting to identify innovations that they could then bring to China, and they are extraordinarily happy with and feel that they will be able to build a long-term business relationship with.
The establishment of this new center comes after Canadian Foreign Minister Chrystia Freeland held talks with her Chinese counterpart Wang Yi, telling him that trade ties between the two countries would not be affected by a recent trade deal among the U.S., Mexico, and Canada.
The new USMCA trade deal prevents the three partners from entering a free trade deal with a quote “non-market” country, such as China. In the eyes of the U.S., Japan and some European countries, China remains a “non-market Economy”.
On Monday, Chinese Foreign Ministry says China is willing to work with the international community, Mexico and Canada included, to uphold multilateralism and free trade system of the world.
Beijing seeks overseas investments and advanced technologies. The country is pushing for innovation in science and technology sectors in order to find a new engine to keep its economy growing.
In 2019, China and Canada plan to hold a technological innovation competition in Toronto.