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Canada, China create fund to invest in Canadian resources

Published by Steve Coleman on February 09, 2012

Ties between Canada and China became a little closer Feb. 9 with the announcement a $1 billion US fund has been created to help boost Chinese investment in Canadian resources.

The deal between Canaccord Financial Inc. and the Import Export Bank of China will create, what the two sides are calling, "The Canada-China Natural Resource Fund" to invest money into the Canadian resource sector.

It's expected the project will collect a large share of the $1 billion from large Chinese investors.

However, the fund will be handled on a day-to-day basis by autonomous managers hired by the fund's financial backers.

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