The Chinese economy is only just coming to scale and will have $1 trillion to $2 trillion to invest abroad over the next five to 10 years according to some estimates, said Wenran Jiang, director of the Canada-China Energy & Environment Forum.
Canada’s review of Cnooc Ltd.’s $15.1 billion bid for Nexen Inc. is a “litmus test” for Canada’s willingness to accept Chinese investment, said Howard Balloch, 61, chairman of the Asian division of investment bank Canaccord Genuity Corp.
The Canadian review of Cnooc Ltd.’s $15.1 billion bid for Nexen Inc. triggered calls for simpler foreign-investment rules as government-controlled Chinese companies account for a rising share of Asian takeovers.
Bank of Nova Scotia is still waiting to close its purchase of Bank of Guangzhou, seven months after Prime Minister Stephen Harper raised the issue with China’s Premier Wen Jiabao. The delay is weighing on Harper as he considers Cnooc Ltd.’s $15.1 billion bid for Nexen Inc.