Chinese Chill

摘要

China has dramatically altered its international investment policy,pulling back on its plans for direct participation in Canada's oilsands and withdrawing its support for Enbridge Inc.'s 4-billion Gateway Pipeline Project to deliver bitumen and synthetic crude oil to the west coast.At a July oilsands forum in Calgary hosted by TD Newcrest,Yiwu Song,vice-president of CNPC International(a subsidiary of the China National Petroleum Corp.),outlined the changes along with China's reasons for re-evaluating its enthusiasm for the oilsands:projects,he said,take too long to get off the ground and the political environment here"frustrates"Chinese investors.