China calling

摘要

Pssst. Don't tell anyone you heard it from me, but there's a pile of money in China. CNOOC. Sinopec. PetroChina. Asian companies have invested more than $45 billion into Canada over the past three years, including the planned $15.1-billion acquisition of Nexen Inc. announced in late July. And it's a good bet they're not done yet. China is the largest holder of U.S. Treasury securities at US$1.17 trillion as of May 2012, which is one-third of China's US$3.24 trillion in foreign exchange reserves. If China continues to diversify its portfolio by investing directly into the Canadian economy, the impact on individual companies could be huge.