Chinese State-Controlled Funds and Entities in Canada

Xiaohua Lin and Qianyu Chen

Chapter 12 in Chinese International Investments, 2012, pp 257-276 from Palgrave Macmillan

Abstract: Abstract In July 2009, Teck Resources Limited, Canada’s largest mining company, approved the purchase by China Investment Corporation (CIC) of 101.3 million Class B subordinate voting shares of Teck through a wholly owned subsidiary. The CIC would indirectly hold approximately 17.5 percent of Teck’s outstanding Class B subordinate voting shares, representing 17.2 percent equity and 6.7 percent voting interests in Teck (Bouw, 2010). By the end of 2009, CIC’s stake in Teck was worth US$3.5 billion, making Teck its largest single equity holding (Perkins, 2010). At about the same time, in December 2009, Canada and China signed a deal for PetroChina to invest US$1.7 billion in two Canadian tar-sand deposits in Alberta (Polzcer, 2009). If successfully implemented, these two deals will become the largest acquisitions so far by China’s State-Controlled Funds and Entities (SCFEs) in North America.

Keywords: Foreign Direct Investment; Foreign Investment; Develop Nation; Local Enterprise; Outward Foreign Direct Investment (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230361577_13

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