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New joint Chinese-Canadian fund will invest in Canadian oil


 

Canaccord, one of Canada’s largest investment banks, has announced a joint $1-billion fund with the Import Export Bank of China (Eximbank) earmarked for investments Canada’s energy sector. The Canada-China Natural Resource Fund will raise funds from investors in China and other countries, and put that money into companies listed or that have the potential to be listed on Canadian stock exchanges, according to a Canaccord statement. The deal follows a trend of Chinese money flowing into Canada’s natural resource sector, especially energy, where state-owned Chinese businesses have recently invested billions of dollars in Canada’s oil sands. China’s appetite for supplies of natural resources abroad extends further into other resources Canada has in abundance, including minerals, metals and potash.


 
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