China, Canada Sign Deals Worth US$5.3 Billion

China, Canada Sign Deals Worth US$5.3 Billion

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China and Canada signed about 200 business and cooperation deals worth 5.3 billion US dollars Tuesday.

The deals include 65 contracts worth a total of US$1.4 billion, 64 memorandum of understanding valued at two billion, 36 letters of intent valued at 1.2 billion as well as 32 other agreements valued at 78 million US dollars, said the Canadian Embassy in Beijing.

Canadian Prime Minister Jean Chretien, who is on an official visit to China with a delegation of more than 600 people, said the business deals "reaffirmed the strength of Canada's commitment to the vibrant and dynamic Chinese market."

He described China as "an important and growing global economic player and a market of enormous importance and potential."

Team Canada 2001 is the largest trade mission sent abroad in Canadian history. The prime minister is accompanied by provincial and territorial leaders, mayors, representatives of academic institutions and non-governmental organizations, and a youth delegation.

The deals cover a wide range of areas, including environmental technology, agriculture and agro-food, information and communication technology, education technology, the culture industry, energy, transportation, mining and minerals, financial services, and medical and health services.