Thursday, November 30, 2006

Ottawa open to China in small doses; Resources Minister says investment should be limited to minority stakes

On November 30, 2006, Dr. Wenran Jiang was interviewed by the Globe and Mail on Natural Resources Minister Gary Lunn's recent message during his China visit that Chinese investment in Canadian energy and natural resource sectors is welcome, but as minority interests in Canadian-controlled joint ventures.

Dr. Jiang said Chinese officials fear the investment monitoring could result in a highly politicized process, similar to the one in the United States that derailed a bid by Chinese National Offshore Oil Corp. to acquire Unocal Corp. But he noted that most Chinese companies are not looking for majority control in Canadian companies, preferring minority position along the lines of two recent investments in Canadian oil sands projects.

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