VEC, City of Vancouver & mission delegates conclude more agreements with key stakeholders in China

November 6, 2013 | Jobs and the Economy

Total of Five MOUs Signed During first days of Vancouver-China Business Mission 2013

Five memorandums of understanding (MOU) were signed in Beijing during the initial days of the largest ever Vancouver-led business and cultural mission to China. These MOUs formed between the VEC, the City of Vancouver, delegate companies and Chinese-based organizations establish the foundations to develop new partnerships and opportunities for trade and investment in sectors ranging from manufacturing to arts and culture and technology.

“This is the largest Vancouver-led business and cultural mission to China in our city’s history, and we are already seeing remarkable interest both in Vancouver’s growing economy and our vibrant arts and cultural community,” said Mayor Gregor Robertson. “It’s encouraging to see such strong connections being forged between Vancouver businesses and cultural organizations and their counterparts in China, presenting important opportunities for significant new investment and job creation in our city.”

“The agreements signed in the first few days of this mission have been strategically designed to generate traction and build relationships between Vancouver and several partners in China,” said VEC CEO, Ian McKay. “These partnerships - with government, venture capital groups, cultural and research organisations - will deliver stronger and more sustainable economic opportunities for Vancouver businesses in China.”

Organized by the VEC and the City of Vancouver, the Vancouver-China Business Mission 2013 is connecting Vancouver-based and Chinese organizations in order to create partnerships that benefit both Vancouver and China with stops in Vancouver’s sister-city Guangzhou, Beijing, Shanghai and Hong Kong from November 4-12, 2013. The following MOU’s were signed in Beijing on November 4:

MOU on Strategic Cooperation – City of Vancouver & Chaoyang District

Vancouver Mayor Gregor Robertson signed an agreement with Zhang Wei Gang, Deputy Mayor of Chaoyang District, which establishes long-term benefits between the two cities. A key highlight of this agreement is the commitment to set up the Chaoyang Investment Centre in Vancouver, which will encourage the business community to engage in and learn about made-in-China products. By signing this MOU, Vancouver commits to finding shared opportunities for investment and trade, and looks forward to a strong partnership with Chaoyang.

Agreement on Collaboration between Zhongguancun Private Equity and Venture Capital Association and the VEC

The Vancouver Economic Commission and the Zhongguancun Private Equity and Venture Capital Association (ZVCZ) signed a partnership that is intended to support trade and investment by providing guidance and identifying potential partnerships or start-up opportunities for businesses in both China and Vancouver. Founded in January 2012, ZVCA is the first government-appointed non-governmental organization in China with the purpose of strengthening investment communications and internationalization of the domestic private equity industry. ZVCA has nearly 1000 members from all over China, including Angels, VC Funds, PE Funds, Entrepreneurs, High-Worth-Individuals and finance professionals, with about 100bn RMB ($15bn) assets under management.

Partnership between Goh Ballet, National Ballet of China in Beijing

Chan Hon Goh, director of the Goh Ballet Academy, signed an agreement with representatives of the National Ballet of China on Monday. This agreement benefits the dancers of the two companies, enabling them to openly collaborate on performances and provide dancers with further opportunities. This agreement is a first for both the Chinese dance company and for a Canadian ballet company, and the hope is that it will further the collaborative arts relationship between Canada and China.

MOU to Establish Research and Incubation Partnership between Istuary Innovation Labs and Shanxi Zhongdianhuashen

Ethan Sun, President and CEO of Istuary Innovation Labs Inc., and Youshun Wang, Chairman of Shanxi Zhongdianhuashen, signed an agreement that will see the two companies join efforts to build a research and development center in Beijing. The R&D center will focus on development of low energy data center servers and network appliances utilizing the technologies provided by Istuary.

MOU on Strategic Cooperation – Beijing International Copyright Centre & the VEC

Through this agreement, the Vancouver Economic Commission is pleased to be able to facilitate a permanent location in Vancouver for a Chinese Cultural and Art Exchange Centre. The Centre will allow for the showcasing of culture and trade opportunities that will be of mutual benefit to Beijing and Vancouver, and the next step in further strengthening the long-standing cultural ties that already exist between China and Vancouver.