China and Canada Deepen Financial Cooperation as Both Sides Seek More Stable Trade Relations
The agreements cover financial market access, regulatory coordination and central-bank cooperation as Beijing and Ottawa work to stabilize relations after trade and diplomatic tensions.
China and Canada have agreed to deepen cooperation in financial services, regulatory supervision and economic policy following a two-day strategic dialogue in Vancouver, in a sign that both governments are seeking to stabilize bilateral relations after a period of trade and diplomatic friction.
Chinese Vice Premier He Lifeng co-chaired the second China-Canada Economic and Financial Strategic Dialogue on Nov. 8 and 9 with Canadian Finance Minister François-Philippe Champagne and International Trade Minister Maninder Sidhu.
The discussions produced several agreements covering financial-sector cooperation, regulatory communication and coordination between the two countries' finance ministries and central banks. The outcome was detailed in a joint factsheet released by China's Ministry of Finance and Canada's Department of Finance.
According to the Chinese Ministry of Finance, the two sides agreed to strengthen cooperation in financial services market access and increase engagement between capital-market authorities and financial regulators.
The institutions also signed a memorandum of understanding on cooperation between finance ministries, an agreement establishing a financial regulatory and supervisory dialogue, and terms of reference for a bilateral financial working group.
The two governments welcomed the implementation of their bilateral currency-swap arrangement and acknowledged progress in recent economic and trade consultations.
Canada's Department of Finance said the dialogue was intended to build on commitments made by the two countries' leaders in January 2026. The Canadian government also highlighted the importance of expanding two-way trade and investment, particularly in financial services and sectors where both countries see opportunities for cooperation.
The Canadian statement is available on the Department of Finance Canada website.
The dialogue comes as both countries attempt to rebuild confidence in their economic relationship. Canada and China maintain substantial commercial links, but disagreements over trade policy, tariffs, market access and security concerns have periodically created uncertainty for businesses.
According to Canadian government figures, two-way merchandise trade reached 125.7 billion Canadian dollars in 2025, an increase of 5.7% from the previous year. Canadian merchandise exports to China totaled 35 billion Canadian dollars, while imports from China reached 90.6 billion Canadian dollars.
Canada has also set a goal of increasing exports to China by 50% by 2030. Agricultural products, forest products and seafood are important components of its export relationship with the Chinese market.
The dialogue may provide a framework for improving communication on financial and regulatory issues, but it does not by itself resolve wider trade disagreements. Businesses operating across the two markets continue to face questions involving tariffs, investment screening, supply-chain security and the political relationship between Ottawa and Beijing.
The talks also included a business roundtable attended by officials and industry representatives from both countries. The meeting was intended to identify opportunities for expanding trade and investment and to provide companies with a channel to raise practical concerns.
China's Ministry of Finance said both sides had discussed the global economic outlook and their respective macroeconomic policies. They also agreed to strengthen cooperation through multilateral institutions, including the G20 and Asia-Pacific Economic Cooperation forum.
For Canada, stronger financial cooperation with China could support its broader effort to diversify export markets and attract investment. For China, improved access to Canadian markets and more stable financial ties could help strengthen its economic relationship with a major advanced economy.
The two sides said they supported a transparent and predictable environment for trade and investment. The next strategic economic and financial dialogue is expected to be held in China.
The outcome will be judged by whether the new mechanisms lead to practical improvements in market access, regulatory coordination and business confidence. For now, the agreements provide an institutional basis for continued engagement at a time when both countries are navigating an increasingly uncertain global trade environment.