Canada-China economic dialogue opens in Vancouver as He Lifeng meets Champagne and Sidhu; China markets green bonds in Canada

The second China-Canada Economic and Financial Strategic Dialogue is being held in Vancouver today (November 9). Chinese Vice Premier He Lifeng is co-chairing the talks with Canadian Finance Minister François-Philippe Champagne and International Trade Minister Maninder Sidhu. Bank of Canada Governor Tiff Macklem and Superintendent of Financial Institutions Peter Routledge are also taking part. The dialogue comes as relations between the two countries show signs of warming, and as China begins marketing yuan-denominated green sovereign bonds in Canada on the same day.

Who is at the table

According to a joint ministerial statement issued by Canada's Department of Finance on November 4, He is leading a Chinese delegation to Canada on November 8–9, with the dialogue taking place in Vancouver. China's foreign ministry spokesperson announced on November 6 that He, a member of the Political Bureau of the Communist Party of China Central Committee and Vice Premier of the State Council, would co-chair the dialogue as China's lead representative.

This is the second meeting of the mechanism, following the first dialogue in Beijing on April 3, 2026, when He and Champagne agreed to hold the second round in the second half of the year and to deepen cooperation in the economy, trade and finance. Neither side published a detailed agenda or expected outcomes in advance.

Green bonds marketed in Canada

Bloomberg reported that China's Ministry of Finance began marketing yuan-denominated green sovereign bonds in Canada on Monday, offering up to 4 billion yuan (about US$600 million) in three- and five-year notes, with initial price guidance at yields of around 1.8% and 1.9%. The report described it as China's debut sale of such bonds in Canada, part of Beijing's push to promote international use of the yuan and reach more overseas investors.

A tentative thaw

Canada-China relations have been strained in recent years, but there have been recent signs of a thaw. On November 4, the two sides announced Chinese market access for Canadian canola meal, peas, lobster and crab. Prime Minister Mark Carney will also travel to Ireland, the Philippines, Cambodia and China from November 11 to 19, and plans to meet Chinese President Xi Jinping during the trip.

Before heading to Canada, He held a video call on the evening of November 6 with U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer to discuss the understandings reached by the two countries' leaders and the results of trade talks.

(Photo: file image of the Vancouver skyline, source: TravelPulse)