Will the upcoming muni sponsored China trip be a colossal boondoggle or a potential bonanza? The answer to that question depends on what cards our mayor presents at the high stakes China investment poker game in September.
In this very competitive marketplace every industrialized nation is working overtime to lure Chinese outward direct investment, which is growing at one of the fastest rates in the world.
So far the bulk of Chinese investment in Canada has been in the traditional energy and resource sectors. But domestically China also had the largest addition of renewable power capacity in 2009 and surpassed the United States as the country with the biggest investment in clean energy.
China now produces about 40 per cent of the world's solar electricity collectors, 25 per cent of its wind turbines, and three-quarters of its solar water heaters.
Globally, wind was the dominant clean energy sector in 2009, accounting for $59-billion in spending.
Could 老澳门六合彩开奖记录资料 become a distribution hub and testing ground for wind-powered generators from China? We know the wind turbine idea was spearheaded earlier this decade by the 老澳门六合彩开奖记录资料 Sustainability Corporation with limited success. That was then, this is now.
With a deep sea port, upgraded highway, and reliable rail connection, rapid transportation from 老澳门六合彩开奖记录资料 to North American markets is readily available.
Another potential source of investment from China is tourism, a sector boosted considerably by the recent "approved destination" status the Chinese government bestowed on Canada.
It has been projected that Chinese nationals will spend $48 billion US on world travel in 2010, up 14 per cent from 2009. By 2015, according to the Chinese government, there will be 100 million outbound travellers a year.
Canada is the No. 3 favoured destination for Chinese tourists, behind only Australia and Singapore.
The federal government's Canadian Tourism Commission hosted 50 Chinese tour operators in June and will run a trade mission in Beijing this fall to connect Canadian and Chinese operators.
In order to capitalize on all of these initiatives 老澳门六合彩开奖记录资料 has to figure out how to exploit the tourism sector. Just showing up in China in September, shaking a few hands and extolling the wonders of the Outdoor Rec Capital of the Nation won't cut it.
Most Chinese tourists will not be climbing, mountain biking, or doing a whole lot of hiking. Like many European visitors, the Chinese plan to experience the visual beauty of the area in comfort and are seeking a better understanding of the historical and cultural lie of the land.
Referring to the West Coast tourism industry in general, Willie Kwong, research manager for a Vancouver-based non-profit called SUCCES, points out that "we need to get our hands dirty, roll up our sleeves and get into the market and really understand the tourists' needs."
In the meantime, the first tour from China under the "approved destination" program is due to arrive in Vancouver in mid-August. The DOS marketing department should invite some of those folks up here and show them a good time for a few days.
Both the visitors and the hosts could learn a lot from that inaugural hands-on experience.
