Chinese minister of commerce asks that Canadian regulators be considerate
Chen Deming, the Chinese minister of commerce, has asked that Canadian regulators be fairer when dealing with state-owned firms.
Chen Deming also insisted that China’s state owned companies act no different from private businesses. He also stressed that the firms obey the sovereign laws of the countries in which the are operating.
Chen Deming’s comments come as the state owned China National Offshore Oil Corporation (CNOOC) bids to acquire Canadian energy provider Nexen Inc. for $15.1 billion.
Canadian regulators are currently reviewing the bid to determine whether or not it will benefit the economy.
There have been concerns about the allowing a Chinese state run company to buy Canadian resources as it could give a foreign government an unprecedented level of power in Canadian affairs.
Speaking to an audience of Canadian business representatives, Chen Deming was keen to highlight that state owned businesses do not operate any differently from private firms.
He said, “I hope our Canadian colleagues can have a very fair and objective analysis of these companies.”