Carney Heads to Shenzhen to Meet Xi as Canada–China Trade Hits a Record High

Next week, Canada–China trade turns its eyes to Shenzhen.

The APEC leaders' summit runs November 18–19 in Shenzhen, and Prime Minister Mark Carney has confirmed he will attend and meet Chinese President Xi Jinping on the sidelines. It is Carney's second trip to China since taking office; his January visit was the first by a Canadian prime minister since 2017.

The numbers explain the trip. Bilateral trade reached C$36.78 billion in the third quarter, a single-quarter record, according to the University of Alberta's China Institute. Canadian crude exports to China jumped 159 per cent year over year, averaging 327,000 barrels a day, helped by the expanded Trans Mountain pipeline. Canola meal, peas, lobster and crab shipments are all climbing.

On November 4, International Trade Minister Maninder Sidhu and Chinese Commerce Minister Wang Wentao agreed in Beijing to extend China's lower tariffs on Canadian farm goods through the end of 2028. With Canadian beef access to China restored earlier this year, Ottawa's stated goal is plain: grow exports to China by 50 per cent.

What the Canadian side is saying

Carney told reporters in Montreal on November 10 that he will raise foreign interference directly with Xi: "I will emphasize how much we value China and other countries not meddling in our affairs." Canadian coverage splits its attention between the record trade figures and that warning. Carney describes the economic partnership as deepening — with clear guardrails. The driver is no secret: Canada is trying to reduce its dependence on the U.S. market, and China and India top the diversification list.

What the Chinese side is saying

China's foreign ministry spokesman Guo Jiakun responded on November 11 that China adheres to the principle of non-interference and rejects the allegation. Chinese coverage leads with tariffs, beef and record trade numbers. Cooperation is the headline; the dispute gets a paragraph.

Same meeting. Two headlines, already written.

Why it matters in the GTA

When Canada–China trade warms up, GTA importers, food traders and logistics firms feel it first. Toronto's Shenzhen business associations — the Canada Shenzhen Chamber of Commerce and the federation of Shenzhen community groups — have been visibly more active, and trade events like the Toronto Trade Show are built around exactly this two-way business traffic. Snowowl Media will be watching whether Carney's delegation includes GTA companies, and what industry-specific deals, if any, come home from Shenzhen.

Have you felt the thaw in your own business this year? Tell us in the comments.