An Alberta industrial development body has ended a partnership with a Chinese private equity fund that targeted $10 billion to invest in the natural resources sector, a spokesperson for the Alberta entity told Reuters.
The Alberta Industrial Heartland, a not-for-profit organization consisting of five Alberta municipalities, and the Hong Kong-based private equity firm Can-China Global Resource Fund had announced their partnership in 2016 to encourage investments across North America.
The previously unreported development comes as tension between China and Canada has escalated in recent years, though sources Reuters spoke to could not confirm whether the dissolution of the fund is a direct result of that. She added that provincial governments might feel compelled to toe the official stance of Ottawa or not to veer too much from public opinion, as it could incur risks.The only known investment by this fund was a C$722 million buyout of Calgary-based CQ Energy in 2017, a private natural gas production services company. The status of this investment is unknown.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | New Chinese Law Raises Risks for American Firms in China, U.S. Officials SayAmerican executives are being warned about fresh dangers to doing business in China. U.S. officials say Beijing’s revised espionage law is vague and could criminalize normal business activities as spying.
Read more »
WSJ News Exclusive | Chinese Balloon Used American Tech to Spy on AmericansThe Chinese spy balloon that floated over the U.S. early this year was loaded with American-made equipment that helped it collect photos, videos and other information, U.S. officials said
Read more »
Exclusive: China's Shein files for U.S. IPOShein, the Chinese online fashion retailer worth more than $60 billion that is under scrutiny from U.S. lawmakers over its labor practices, has registered with regulators for an initial public offering in New York, people familiar with the matter said.
Read more »
Exclusive: US, Dutch set to hit China's chipmakers with one-two punchThe United States and the Netherlands are set to deliver a one-two punch to China's chipmakers this summer by further restricting sales of chipmaking equipment, part of the countries' ongoing effort to prevent their technology from being used to strengthen China's military.
Read more »
Exclusive: Letter from prison: South Korean chip exec denies stealing Samsung data for China factoryA South Korean chip executive imprisoned over industrial espionage charges rejected allegations he had sought to build a copycat chip factory in China with sensitive information developed by Samsung Electronics.
Read more »
University of Alberta researchers find evidence of 88 potential unmarked graves\u0022What is going on here? What are graves doing in these locations that are not inside of a known cemetery area?\u0022
Read more »