2024-11-07 03:50:02
Canada is leading its largest delegation in years to make a strong impact at the CIIE 2024 in Shanghai. With prominent officials and renowned brands such as Lululemon and Aldo in attendance, the country aims to strengthen its presence in the healthy consumer products sector. The event also marks a significant step in enhancing bilateral relations, with the signing of 30 agreements between companies. Moreover, the resumption of daily direct flights from Vancouver to Shanghai and Beijing will further boost connectivity between Canada and China.
Each year, Shanghai hosts one of China’s largest exhibitions, the China International Import Expo (CIIE). This event aims to facilitate economic cooperation and trade between countries and regions worldwide and features over 1,000 exhibitors and 150,000 buyers. This year, Canada is making a significant impact with its largest delegation in years, comprising nearly 100 participating companies. These companies span various sectors, including consumer products, nutraceuticals, agri-food, medical equipment, creative industries, transportation, and others.
(Canada’s 2024 CIIE Trade Delegation Welcome Dinner – Kempinski Hotel Shanghai November 5th. )
At CIIE 2024, Canada is promoting the theme “Canada, Part of Your Healthy Lifestyle”, which highlights healthy consumer products. This focus aligns strategically with China’s rapidly growing US$680 billion health and wellness sector. Canada invites consumers and partners from China and beyond to visit its pavilion at the event. The pavilion is co-hosted by the Consulate General of Canada in Shanghai, the Canadian Chamber of Commerce in Shanghai, and the Canada China Business Council. H.E. Jennifer May, Ambassador of Canada to the People’s Republic of China, stated: “I am happy to be back at CIIE this year to celebrate the launch of the Canada Pavilion and to support a growing number of Canadian companies exhibiting at this important expo. I would invite everyone to discover more Canadian brands and learn how to make Canada part of your healthy lifestyle”.
(Jennifer May, Canadian Ambassador to the People’s Republic of China, opening the Canada 2024 CIIE Trade Delegation Welcome Dinner – Shanghai November 5, 2024.)
Notable Canadian CIIE participants include highly popular brands in China, such as Lululemon, along with iconic Canadian brands like Aldo and Roots, which are marking their return to the Chinese market.
According to the Consulate General of Canada, participants in the Canada pavilion include Aldo, BAO Laboratory, Cocoon, Herbal Glo, Ironwood Clay, Nest Designs, Venque, WAT Medical, and ZUUTII. Meanwhile, Roots, Maison Apothecare, Purodora, and Wild Prairie Soap will be showcased in the CIIE’s “New Product Zone”.
Other participating Canadian companies can be located via the CIIE exhibition guide. The Canadian delegation is being hosted and led by high-profile officials, including Canada’s Ambassador to the People’s Republic of China, Jennifer May, newly appointed Consul General of Canada, Jenny Chen, Senior Trade Commissioner in Shanghai, Alexandre Cerat, Consul and Trade Commissioner, Samuel Boateng, Consul and Trade Commissioner, Fiona Hawkshaw, and Trade Commissioner Lulu Mi, among others.
(Canadian Ambassador to the People’s Republic of China, Jennifer May (center left), Senior Trade Commissioner in Shanghai, Alexandre Cerat (center right), and esteemed attendees at Canada’s 2024 CIIE Trade Delegation Welcome Dinner – Kempinski Hotel Shanghai November 5th.)
Canada and China have a complex and multifaceted trade relationship, which has been navigating challenges posed by the COVID-19 pandemic and geopolitical tensions in recent years. Despite this, China is Canada’s second largest trading partner, behind the Unites States, and bilateral trade flows remain near record levels. In 2023, Canadian imports from China were valued at CA$89.0 billion in 2023. Meanwhile, Canadian exports to China reached CA$30.5 billion, growing more than 50 percent in the past 10 years, and more than 10.6 percent over the previous 5 years.
Canada’s top exports to China include minerals and metals, wood and paper products, oil seeds, fat, and oils, petroleum, and cereals and preparations. Between 2019 and 2023, exports of mineral fuels and copper from Canada to China experienced substantial growth, increasing by 36 percent and 33 percent, respectively.
At the same time, the food and agriculture products segments has witnessed growing exports. Among others, oil seeds and oleaginous fruits (i.e., almonds, walnuts, hazelnuts, pistachios, etc.) saw the highest growth, with annual growth in value of around 46 percent between 2019 and 2023, making them one of the leading contributors to Canada’s export portfolio. In 2023, canola alone reached a total export value of CA$3.84 billion (US$2.85 billion), an impressive growth rate of 75.21 percent year-on-year. Cereals and prepared animal fodder exports experienced an annual growth of 19 percent and 14 percent, respectively, between 2019 and 2023.
In addition to food and agricultural products, pharmaceutical products have shown notable growth, expanding by an annual growth rate of 20 percent from 2019 to 2023. This growth can partly be attributed to China’s demographic shifts and Chinese consumers’ upgrading preferences. Apparel and clothing accessories also saw decent growth between 2019 and 2023, with an annual growth rate of 18 percent over the past five years.
Furthering the prospects for growth, Canadian companies have signed more than 30 contracts with Chinese partners at CIIE 2024. Ambassador May also announced that Canada and China have reached an agreement to increase daily flights between the two countries.
Specifically, Air Canada announced that daily flights between Shanghai and Vancouver would resume starting December 7, 2024, while daily flights between Beijing and Vancouver would resume on January 15, 2025. These announcements mark continuing positive strides towards warmer trade ties, and towards more cooperative agreements and easier travel between these important business hubs.
Canada’s participation in the 2024 CIIE demonstrates the robust and evolving trade relationship between Canada and China.
With its largest delegation in years, featuring nearly 100 companies across diverse sectors, Canada is poised to strengthen economic ties and explore new business opportunities with China.
The resumption of daily flights between the two countries further facilitates this collaboration, marking a significant step towards enhanced connectivity and mutual growth.
Finally, the presence of high-profile officials and popular brands at the expo highlights Canada’s commitment to fostering a healthy lifestyle and promoting its innovative products in the Chinese market.
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Dezan Shira & Associates assists foreign investors into China and has done so since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Haikou, Zhongshan, Shenzhen, and Hong Kong. We also have offices in Vietnam, Indonesia, Singapore, United States, Germany, Italy, India, and Dubai (UAE) and partner firms assisting foreign investors in The Philippines, Malaysia, Thailand, Bangladesh, and Australia. For assistance in China, please contact the firm at china@dezshira.com or visit our website at www.dezshira.com.
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