VANCOUVER, B.C. - Canada and China have deepened their economic ties at talks in Vancouver, signing a finance-ministry pact and a new agreement between their financial regulators.
Finance Minister Francois-Philippe Champagne and International Trade Minister Maninder Sidhu concluded meetings on November 8 and 9 with Chinese Vice Premier He Lifeng as part of the Canada-China Economic and Financial Strategic Dialogue, the Department of Finance said on November 9, 2026.
The two sides signed a Memorandum of Understanding between the finance ministries. Canada’s Office of the Superintendent of Financial Institutions and China’s National Financial Regulatory Administration also signed a Cooperation Agreement establishing a Financial Regulatory and Supervisory Dialogue. The ministers also held a business roundtable with industry leaders from both countries.
The dialogue builds on Prime Minister Mark Carney’s visit to China in January 2026, which renewed the strategic partnership between the two countries and marked the first visit by a Canadian prime minister since 2017. Minister Champagne visited China in April, and Minister Sidhu visited earlier this month.
“As two major economies with significant commercial ties, Canada and China share an interest in maintaining an open dialogue and advancing economic cooperation,” Minister Champagne said.
“From energy to agri-food to financial services, Canadian businesses see the scale of opportunity in China, with our goods exports growing 39% to almost $35 billion between January and September this year,” Minister Sidhu said.
Two-way merchandise trade between Canada and China reached $125.7 billion in 2025, up 5.7 per cent from the year before. Canadian exports to China were $35.0 billion, up 16.8 per cent, while imports were $90.6 billion, up 1.9 per cent. Canadian exports to China are up 41 per cent so far in 2026, and the two countries have set a goal of increasing Canadian exports to China by 50 per cent by 2030.
China is Canada’s second-largest customer for agriculture, forest products and seafood, buying about $10.2 billion of those goods. More than 1.7 million Canadian residents are of Chinese origin, and the two countries have had diplomatic relations for more than 55 years.
The talks matter for British Columbia and for Surrey. The province’s agri-food, forestry and seafood exporters stand to gain from deeper trade ties with China, and Surrey’s Chinese-Canadian community and its many import, export and food businesses are closely connected to the relationship. Trade diversification has become a priority for B.C. businesses looking beyond the United States, and China is Canada’s second-largest trading partner overall.
A companion Joint Factsheet on the Second Canada-China Economic and Financial Strategic Dialogue was also released on November 9. No outcome on canola or peas tariffs was announced as part of the meetings.
(Source: Department of Finance Canada, November 9, 2026)
