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CanCham News Roundup: Jan. 30

Shanghai Free Trade Zone Policies to Expand Throughout China
Certain preferential policies piloted in the Shanghai Free Trade Zone will soon be expanded nationwide, according to a recent announcement from China’s cabinet, according to Xinhua. The rest of China will allowed to adopt 22 measures on investment, foreign trade, finance, service and government supervision by June 30.

Toronto-based Investment Management Company Opens HK Research Office
CI Investments Inc., and Signature Global Asset Management announced the establishment of an office in Hong Kong, reports CNW Group. The office will lead Signature’s investment research in China, and Asia, and will operate as CI Global Investments Asia Limited, a Hong Kong subsidiary of CI Investments.

New Motion to Negotiate Longer Chinese Visas for Canadians
A new motion recently tabled in Parliament seeks to open negotiations with China to grant Canadians 10-year, multiple-entry visas to China, reports the Vancouver Sun. Washington and Beijing recently reached an agreement to allow multi-entry visas for travelers between the two countries, while currently Canadians can only apply for one year visas, which can be extended to two for an extra fee. Canadians with financial interests in China are at a disadvantage in light of the US-China deal, says Vancouver Kingsway MP Don Davies, who tabled the motion accompanied by a petition with over 2,000 signatures.

Wealthy Chinese Immigrants on Countdown for CDN Visas
The countdown is on. As of January 28, wealthy would-be immigrants to Canada had just two weeks to apply for the Immigrant Investor Capital scheme, slated to end on February 11, according to South China Morning Post. IIVC grants permanent residency to those worth at least C$10 million, and who are willing to invest C$2 million in companies of Canada’s choosing. The annual quota for applications is set at 500, from which a maximum of 60 applicants would be approved after selection by lottery, then 50 chosen for permanent residency. The new scheme, which replaces the former Immigrant Investor Programme, also requires applicants to have proficiency in English or French, and Canadian tertiary education, or a foreign equivalent.

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