ONTARIO secured significant new investments from Chinese partners on Tuesday as part of Premier Kathleen Wynne’s first trade mission to China. These investments will create jobs in several communities, including Toronto, Ottawa, Markham and Niagara Falls.
Greenland Group, a global property development company based in Shanghai, will build a pair of residential towers in downtown Toronto. Construction on the $400-million project is scheduled to begin within six months and will create up to 200 jobs.
Shanghai Yuyuan Tourist Mart and Mennie Canada Ltd. will set up a joint venture in Toronto, investing $5 million in four Chinese restaurants over the next three years. This investment will create 80 jobs in several locations in Ontario, including Toronto, Markham and Niagara Falls.
ZTE Canada, a global telecommunications equipment company, plans to invest $17 million over the next three years in an Ottawa research and development centre. This is expected to create 40 new jobs.
EHC Global and Shanghai Wei Long Enterprise will partner in the design, manufacture, sales and service of components for the global lift industry, which includes elevators and escalators. The value of the contract could reach $20 million over the next three years, and will create up to 20 new jobs.
These investments are in addition to investments announced yesterday from Suzhou Xingya Investment Company, Jiangsu Huayi Technology Co. and Canadian Solar Solutions Inc.
The Premier also met with Ai Baojun, Vice Mayor of Shanghai. Ontario and the Science and Technology Commission of Shanghai Municipality signed a Memorandum of Understanding today to promote increased R&D and commercialization partnerships.
Attracting new investments and helping the province’s businesses compete globally is part of the government’s economic plan for Ontario. The four-part plan is building Ontario up by investing in people’s talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives, and building a secure savings plan so everyone can afford to retire.