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CanCham News Roundup: March 13

China Announces 10-year Visas to Canadians
As of March 9, Canadians can now apply for 10-year multiple entry visas to China for business, tourism or family purposes, reports The Globe and Mail.
China’s Foreign Minister Wang Yi first announced the agreement, which follows a similar agreement China reached with the U.S. in November of 2014.

Port of Prince Rupert to Expand Container Capacity for Pacific Trade
In an effort to compete with U.S. hubs connecting the Midwest to the Pacific, the Port of Prince Rupert, Canada’s closest gateway to East Asia, plans to expand container capacity by roughly 60 percent, reports Bloomberg.

Maher Terminals Holding Co., which runs the port’s container terminal, will spend more than C$200 million to boost annual capacity to 1.3 million 20-foot equivalent units by mid-2017. The Canadian National Railway Co.’s train network connects Prince Rupert to Chicago and other parts of North America.

$51M Vancouver Mansion Latest Property Purchased in B.C. Boom
Wealthy Chinese buyers are fuelling a real estate boom in B.C., purchasing some of the province’s most exclusive properties, reports the National Post.

The latest mega-purchase in this trend is the $51.8 million dollar Point Grey mansion that formerly belonged to Don Mattrick, CEO of social gaming company Zynga and former head of Xbox at Microsoft. The home was sold to Mailin Chen, a businessman from mainland China, and his Vancover-based company Chunghwa Investment (Canada) Co. Ltd. A low Canadian dollar is contributing to the current activity in the upper-end real estate market in B.C.

Canada Imposes Stiff Import Duties on Chinese Solar Modules
The Canada Border Services Agency ruled to impose stiff provisional import duties on Chinese solar modules in an effort to protect Canadian manufacturers, reports The Globe and Mail.

The ruling could drive up costs for installers and customers. The final decision is months away, but the current ruling puts in place immediate provisional duties ranging from 9 percent to 202 percent on nine specific Chinese panel exporters, and a duty of 286 percent on all other Chinese exporters.

New CanCham Shanghai Platinum Member: Canpotex
CanCham Shanghai would like to extend a warm welcome to its newest Platinum
Member, Canpotex.

Canpotex is the world’s premier potash exporter, shipping Saskatchewan potash internationally and growing relationships along the way. For over 42 years, we have been working with farmers around the world, teaching them how to best use potash to get the most production from their crops. At Canpotex, we are growing markets, communities, and knowledge.