Canada’s Department of Finance reported new agreements with China to deepen economic dialogue and formalize financial regulatory cooperation during ministerial meetings in Vancouver. Minister of Finance and National Revenue François-Philippe Champagne and Minister of International Trade Maninder Sidhu met Chinese Vice Premier He Lifeng under the Canada-China Economic and Financial Strategic Dialogue (EFSD). Discussions focused on expanding bilateral trade and investment, including in financial services.
Finance Canada and China’s Ministry of Finance signed a memorandum of understanding on cooperation on economic issues. Separately, the Office of the Superintendent of Financial Institutions (OSFI) and China’s National Financial Regulatory Administration (NFRA) signed a cooperation agreement establishing the Financial Regulatory and Supervisory Dialogue (FRSD). The regulators also held the inaugural FRSD meeting, demonstrating how the framework could support technical cooperation on financial sector regulation and supervision.
The meetings followed the renewal of the countries’ strategic partnership during Canadian Prime Minister Mark Carney’s January 2026 visit to China. Bilateral merchandise trade totaled CAD 125.7 billion in 2025, up 5.7% from 2024. Canada has an existing goal to increase exports to China by 50% by 2030.