Money 

Hong Kong’s Chan brothers, famed for charity in Canada, fight tax investigation over KPMG offshore firms

Hong Kong Canadian tycoons Caleb and Tom Chan – whose huge donations have made them two of the biggest names in Vancouver philanthropy – are fighting Canada’s tax collector by refusing to hand over documents about an offshore company structure set up in the Isle of Man with the help of accounting giant KPMG.The Canada Revenue Agency has not accused the Chans of wrongdoing as it audits the brothers and seeks access to the documents.A lawyer associated with their charitable interests said the… Source link

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Money 

Chinese tycoon Li Jianhua fights daughter over Canada real estate fortune in lawsuits depicting knife violence, fraud and corporate turmoil

Tycoon Li Jianhua once planned to live next door to his daughter in Vancouver after he retired from a career that has brought him political prestige and great wealth in China.Two multimillion-dollar mansions were built on a steep and wooded hillside overlooking Vancouver and the Salish Sea, side by side in the exclusive British Properties neighbourhood.It was a fitting location for the former deputy in the National People’s Congress, China’s parliament – in a corporate profile he called himself… Source link

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Home 

Beijing should avoid ‘punishing’ Canada over Huawei case, cautions Ottawa’s ex-ambassador to China

Canada’s former ambassador to China, sacked because of remarks he made in the wake of Huawei’s high-profile extradition case, said he has warned former colleagues at China’s Ministry of Foreign Affairs that any further “punishments” imposed on Canada’s exports could lead to a change of government that is unfavourable to Beijing.“Anything that is more negative against Canada will help the Conservatives, [who] are much less friendly to China than the Liberals,” John McCallum, a veteran Liberal… Source link

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Home 

Huawei CEO Ren Zhengfei says plans to further invest in Canada are unchanged

Ren Zhengfei, the billionaire founder of Huawei Technologies Co. whose daughter’s arrest in Vancouver triggered a diplomatic crisis between China and Canada, said the company still wants to make the country its “global centre for theoretical research,” according to an interview with The Globe and Mail.Huawei’s plans to further invest in Canada — including buying land from Montreal to Vancouver to build research centers — are unchanged, though they have slowed, the chief executive officer said… Source link

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Vietnam 

CPTPP gives Vietnamese firms a chance to invest in Canada – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Panellists at the workshop. Vietnamese businesses are being offered the opportunity to increase trade and investment ties with Canada through CPTPP. — Photo thesaigontimes.vn HÀ NỘI – Vietnamese enterprises are being encouraged to tap into business opportunities in Canada as the nation actively calls for foreign investment in the wake of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially coming into effect. In the workshop “Business opportunity with Canada through CPTPP” on Friday in HCM City, chairman of Canada Trade Link Bryon Wilfert said Canada wanted…

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Global 

Canada investigates suspected foul play in pork shipment that led to China ban

A controversial pork shipment that prompted China to halt Canadian imports may have come from someplace else, according to the government in Ottawa.China’s suspension threatens to upend meat trade flows at a time when African swine fever is already disrupting markets across the globe. Meanwhile, Canada said it is investigating the pork cargo, which came attached with counterfeit health certificates.“There is someone out there who is falsifying Canadian certificates because they think it is in… Source link

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Vietnam 

Apparel maker Vinatex promotes trade in Canada – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Inside a factory of the Vietnam National Textile and Garment Group (Vinatex). — Photo vietnamfinance.vn HÀ NỘI — General Director of the Vietnam National Textile and Garment Group (Vinatex) Lê Tiến Trường has said Vinatex will promote trade in Canada to tap opportunities brought by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).  In the first five months of this year, the firm’s exports to Canada hit nearly US$900 million, or 6 per cent of Canada’s apparel imports. It hopes to earn about $1.5-1.7 billion in Canada this…

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Money 

Alleged Canada real estate tax cheat for Chinese buyers described in Vancouver legal action

An alleged scheme to allow Vancouver’s mostly Chinese foreign buyers to avoid tax on real estate purchases has been revealed by the disintegration of a business partnership involving some of the Canadian city’s top property agents.Under the supposed scheme, described in British Columbia Supreme Court legal action, buyers and sellers who were both based overseas would understate the amount being paid for a property and exchange only that portion in BC – thus reducing the buyer’s property… Source link

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Vietnam 

Vietnamese firms strive to increase apparel exports to Canada – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Representatives of Vietnamese and Canadian garment companies at the workshop in Montreal on Thursday. Photo VNA OTTAWA — Vietnamese textile and garment exports to Trans-Pacific Partnership (CPTPP) markets have failed to match the country’s stature as the world’s second largest apparel exporter. General Director of the Việt Nam National Textile and Garment Group (Vinatex) Lê Tiến Trường delivered this statement during a workshop held in the Canadian city of Montreal on Thursday. The event was organised as part of a trip by officials of Vinatex and its five member companies to Canada to promote their textile and garment…

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Money 

Chinese cash fuels vast luxury car laundering scheme in Canada

Report finds explosion in Canadian grey market worth US$410 million as fake buyers help China’s wealthy dodge sales taxesChinese wealth and demand for luxury cars is fuelling a vast money laundering and tax avoidance scheme in Canada, involving thousands of fake local buyers of vehicles that are actually destined for China.According to a report for the British Columbia provincial government by former Royal Canadian Mounted Police officer Peter German, the “huge” and illicit grey market selling… Source link

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