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ARTICLE · 23 JUNE 2015

New Era For Canada-China Bilateral Business Relations

Gowling WLG
Gowling WLG
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Gowling WLG

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The Ministry of Finance of the State Council of China, announced on May 21, 2015 that China would reduce import tariffs on certain consumer goods, including skin care products, fur garments, suits, shoes, and diapers.

CanadaInternational Law

The Chinese government is making strides to maintain a stable economic growth while promoting its international influence by reducing import tariffs, relaxing limits on individuals investing overseas, and establishing Renminbi (RMB) offshore clearing banks. For its part, the Canadian government has been endeavouring to improve its long-standing economic cooperation with China by opening the first RMB offshore clearing center on the American Continent in Toronto, and by approving the long awaited Montreal-Beijing direct flight. The cumulative effect of these changes ushered in by both countries is a new era of Canada-China bilateral business relations.

Reduced Import Tariffs

The Ministry of Finance of the State Council of China, announced on May 21, 2015 that China would reduce import tariffs on certain consumer goods, including skin care products, fur garments, suits, shoes, and diapers. On average import tariffs will be decreased by fifty percent. Specifically,

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