During the visit of the Canadian Minister of Trade to China, he met with mainland electric vehicle companies to discuss market access pathways and regulations

Canada's International Trade Minister Maninder Sidhu visited China at the beginning of the year. Recently, the Canadian government issued a press release stating that during his visit, Sidhu communicated with Chinese electric vehicle manufacturers such as BYD (01211.HK), XPeng (09868.HK), and GAC Group (02238.HK) to discuss market access pathways under Canada's electric vehicle import quotas, regulatory supply chain requirements, and long-term investment and cooperation opportunities within Canada's clean transportation ecosystem.

At the same time, Sidhu also met with mainland companies such as Alibaba (09988.HK) and JD.com (09618.HK) to discuss how Canadian businesses can utilize their online platforms to export more local products to China.

During Canadian Prime Minister Carney's visit to China earlier this year, an agreement was reached with the Chinese side regarding tariff issues. Canada will allow up to 49,000 Chinese electric vehicles to enter the Canadian market at a Most Favored Nation tariff rate of 6.1%. In exchange, Canada expects the Chinese side to reduce the import tariff on Canadian canola from the current 84% to about 15% by March 1