August 12, 2009 / 6:50 AM / 8 years ago

Flaherty calls economic signs encouraging, tentative

BEIJING (Reuters) - Canadian Finance Minister Jim Flaherty on Wednesday described recent positive economic signs as encouraging but tentative.

<p>Canadian Finance Minister Jim Flaherty speaks to the media in Toronto, June 26, 2009. REUTERS/Mark Blinch</p>

Speaking to reporters after three days of meetings in Beijing, Flaherty said he welcomed Chinese direct investment in Canada but had not been made aware that China Investment Corp was considering other big forays into Canada.

CIC, China’s $300 billion sovereign wealth fund, agreed last month to acquire a 17.2 percent equity stake in Canadian miner Teck Resources for C$1.74 billion.

Flaherty, who last week raised the possibility of policy makers’ intervening in the currency market if the Canadian dollar’s sharp rise put the country’s fragile economic recovery at risk, said he has always expressed concerns about rapid fluctuations in the Canadian dollar.

Reporting by Simon Rabinovitch; Writing by Alan Wheatley; Editing by Ken Wills

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