Canadian Trade Minister Ed Fast, visiting Beijing, has officially confirmed that Ottawa will welcome further continued investment from Chinese energy companies. “Chinese investors looking for stability, innovation, low taxes and an excellent North American platform and gateway need look no further than Canada,” he said, as quoted by the Globe and Mail. CNOOC recently bought the oil-sands operator Nexen for $15.1 billion, the largest single foreign acquisition by any Chinese company year. Despite Prime Minister Stephen Harper’s statement that further foreign state investment in oil sands would be restricted, Fast’s statement makes clear that Chinese investment in other energy sectors will not encounter such restrictions. “Whether it’s oil, whether it’s gas, whether it’s uranium, coal, hydro or clean energy like solar and wind power, we’ve got it,” he is reported to have said.
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