Canada’s Finance Minister François-Philippe Champagne wrapped up a key trade mission to Beijing on April 3, 2026, focusing on boosting financial services ties with China. The visit advances Prime Minister Mark Carney’s vision to increase Canadian exports to China by 50% by 2030, following his January summit with President Xi Jinping.
Mission Highlights
Champagne, joined by Bank of Canada Governor Tiff Macklem and financial sector leaders from Manulife, Sun Life, and major banks, met Vice Premier He Lifeng and Finance Minister Lan Fo’an. They launched the Canada-China Financial Working Group to enhance cooperation in wealth management, pensions, and banking, addressing barriers for Canadian firms seeking expanded licenses in China. Discussions also covered energy, tourism, and removing trade irritants like tariffs on Canadian pork.
Key Exchanges
On supply chain integrity, Champagne stressed Canada’s commitment to international standards amid human rights concerns. He raised retaliatory pork tariffs, positioning the new dialogue as a “clearing house” for bilateral issues in their $120 billion trade relationship. No talks occurred on Chinese auto investments in Canada, with emphasis on financial services enabling broader merchandise trade
Domestic Context
Responding to queries on gasoline taxes amid Middle East tensions, Champagne noted close monitoring with G7 partners but no immediate holiday, citing prior affordability measures. He defended Canada’s fiscal strength—lowest G7 net debt-to-GDP, AAA rating with Germany—despite deficit concerns, highlighting $60 billion in Budget 2025 savings. On Stellantis’ Brampton plant, he insisted on honoring commitments to Canadian workers.
This pragmatic engagement signals Canada’s “eyes wide open” diversification strategy with its second-largest trading partner.
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