Co-operation with China on mining trade and investment
B.C. Premier Christy Clark promotes mining investment in China.
The Province of British Columbia and the People's Republic of China's National Development and Reform Commission (NDRC) signed a co-operation arrangement for bilateral trade and investment in mining and minerals.
"In British Columbia we have some of the best mining products in the world, including coal, copper, gold, molybdenum, silver, lead and zinc—and B.C. is a safe, secure place to invest," said Premier Christy Clark. "This arrangement is an important step forward in helping us build stronger ties with China and open B.C. to new trade and investment."
NDRC is the Chinese ministry responsible for developing and implementing national plans for economic and social development in China. It is in charge of fiscal, monetary and land policies and for setting and adjusting commodity prices. NDRC is also responsible for promoting sustainable development and addressing climate change. It is the ministry with the highest political status as it sets policy for almost all of the key industrial sectors in China.
B.C. is the first province in Canada to sign an arrangement with the NDRC. The MOU will allow both British Columbia and China to learn from each other about mining and build stronger relationships.
Chinese investment in Canada increased by 9.3 per cent to $14 billion in 2010, with British Columbia being one of the growing destinations for that investment.
As part of "Canada Starts Here: The BC Jobs Plan", the Province expects to see at least eight brand new mines and at least another nine mining expansions operational in B.C. by 2015.
This growth is anticipated to generate an increase of additional mine operation revenue estimated at $1.6 billion per year once these projects are fully operational and create approximately 1,800 new and sustain more than 5,000 direct-mining jobs in the province.
The vast majority of jobs are anticipated to be high paying, given the average wage in the mining sector reaches well over $100,000 annually.
As part of the BC Jobs Plan, Premier Christy Clark is leading the largest trade mission in the province's history to promote B.C. as a safe harbour for investment. The Jobs and Trade Mission is focused on strengthening existing relationships between B.C. and Asian markets, opening doors for new relationships and setting the stage for future opportunities in China and India.
Delegates from more than 130 companies and organizations are accompanying the Premier as part of the effort to defend and create jobs here at home. Health Minister Mike de Jong will also be accompanying the Premier during her time in India.
Japan and Hong Kong are also on the jobs and trade mission itinerary. Forests Minister Steve Thomson will travel to Japan and Minister of Jobs, Tourism and Innovation Pat Bell, ends his part of the mission in Hong Kong.
