In a world where business success is increasingly dependent on international alliances, agreements like the one signed this morning by Ontario Centres of Excellence (OCE) and China’s HanHai ZhiYe Investment Management Group are more important than ever.
OCE and HanHai signed a Letter of Understanding to lead the establishment of a China-Canada enterprises innovation centre, including a Sino-Canadian scientific and innovation collaboration and exchange platform that will enable HanHai and OCE to develop an Ontario-China network of entrepreneurs and investors.
“HanHai and OCE are making important new connections between China and Ontario,” said Hanhai Chairman Hanguang Wang. “We are excited by the possibilities that exist when we start connecting entrepreneurs with investors and in both the short and long terms.”
The agreement stems from the 2008 Ontario-China Memorandum of Understanding on Research and Innovation (renewed this past January) which strengthens collaboration and knowledge sharing.
This partnership builds on Sino-Canadian business relations by creating new opportunities for scientific collaboration, knowledge sharing, access to emerging markets and co-investment opportunities in Ontario companies. The initiative will create economic benefits for Ontario such as jobs, and will drive significant discoveries and innovation in both jurisdictions.
The collaboration between the two organizations is supported by Ontario’s Ministry of Economic Development, Trade and Employment and Ministry of Research and Innovation, China’s Ministry of Science and Technology, the Chinese Embassy, the Chinese Consulate General in Toronto and Beijing Municipal Government.