Author Archives: Victoria Fetcher

New information prompts IIO to open investigation into death of UBC student last fall

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Newly uncovered information has prompted one of the offices investigating police behavior in British Columbia to investigate the death of a UBC student in November 2022.

The British Columbia Independent Bureau of Investigation announced Friday that it has launched an investigation into an incident that occurred on November 14, 2022.

According to the IIO, constables told investigators that at 10 a.m. that day, they were called to a residence hall on the UBC campus in Vancouver to respond to a “request for assistance.”

Upon arrival, officers found a student in medical distress. They provided medical assistance until paramedics arrived and took the man to hospital, where he died on November 20, the IOI said.

Earlier this month, “constables learned that two 911 calls were made from the deceased’s phone before 10 a.m. on the day of the first call,” the IIO said.

“It was also alleged that prior to 10 a.m. there were missed calls to the deceased’s phone from a number reported to be Vancouver police,” the statement said.

The university campus is outside the jurisdiction of the Vancouver Police Department and is patrolled by the university’s RCMP division.

The RCMP informed the IIO of the incident on Monday, February 6, the IIO said, adding that it was investigating.

“The initial stages of the investigation will focus on determining whether police were made aware of the 911 calls before 10 a.m. and what role, if any, police action or inaction may have played in the death,” it said. the press release.

The IIO is responsible for investigating all incidents involving police officers in British Columbia in which a member of the public is killed or seriously injured, whether or not there is an allegation of police misconduct. .

Anyone with information or video related to the police response to UBC on November 14, 2022 is asked to contact the IIO witness line at 855-446-8477 or use the contact form on the IOI website.

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#information #prompts #IIO #open #investigation #death #UBC #student #fall

Universities brace for return of Chinese students as Beijing orders them back to Canada

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  1. PMN policy
  2. PMN News
  3. PMN Canada

The Canadian Press

Nono Shen

Posted February 11, 2023 • 4 min read

Join the Conversation Immigration data suggests that tens of thousands of Chinese students in Canada may have returned to China during the pandemic. But now Canadian universities and officials say they are preparing to welcome them back after the Chinese government ordered students who were taking online classes at foreign universities to return to overseas campuses. People walk past a sign at Trinity Western University in Langley, British Columbia, Tuesday, Nov. 1, 2016. Photo by JONATHAN HAYWARD/THE CANADIAN PRESS

VANCOUVER — When Vancouver’s Justin Wong was studying online for his master of arts degree at Trinity Western University during the pandemic, he had to get up at 4 a.m. to collaborate with his classmates.

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It’s because they were in China.

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“A lot of my classmates were from China and thought they could save a lot of money by not living in Canada,” Wong, who graduated last year, said in an interview in Mandarin.

Immigration data suggests tens of thousands of Chinese students in Canada may have returned to China during the pandemic.

But now Canadian universities and officials say they are preparing to welcome more after the Chinese government ordered students taking online courses at foreign universities to return abroad.

China’s Ministry of Education said in a Jan. 28 policy that students studying online in China should return to foreign campuses this spring semester or their qualifications would not be recognized in the Chinese labor market.

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The China Academic Exchange Service Center, which advocates foreign degrees, “will no longer provide degree services” to students using overseas distance education, the statement said.

The verdict took effect immediately for the term which began in early January. The center then granted an exemption to students who could not get flights or visas in time for their classes.

According to Immigration, Refugees and Citizenship Canada, the number of Chinese students with permits in Canada fell by more than 30,000, or 19%, during the pandemic, from 173,365 in 2019 to 141,085 in 2021. The number in British Columbia fell 22% to 33,355.

While Canadian universities and government officials have been unable to specify the number of online students affected by the new Chinese policy, an education adviser puts the number in the thousands.

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Max Meng, CEO of Guangson Education, a BC-based education and immigration company, said 2020 will be a peak for online learning abroad among Chinese students.

“As part of recent (e-learning) policies, combined with the feeling of openness in the post-pandemic era, Metro Vancouver is expected to see another influx of thousands of people from China coming here” , Meng said.

He said his company received 30% more advice requests from China than a year ago.

Kwantlen Polytechnic University spokesman David Connop Price said 45% of the “places” or courses Chinese students are enrolled in are fully online at BC University.

However, this number did not represent the percentage of students, since a person could be enrolled in several courses and it was not known if an online student was in China, Canada or elsewhere.

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Carole St. Laurent, international vice president of Kwantlen, said that before the pandemic, 15-20% of KPU students were from China, but that number dropped to around 10% during the pandemic. The university says nearly 20,000 students take classes each year.

St. Laurent said 531 Chinese students are enrolled in their fall program.

“With this new policy announcement (from China), we’ll see those numbers start to go up again,” St. Laurent said.

She said the school started offering online classes during the pandemic, but students studying remotely in a foreign country might miss some opportunities.

“Although many students think there might be a small cost saving if they study at home, they really miss meeting their fellow students here and experiencing Canadian culture when studying at home.”

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Cyndi McLeod, CEO of Global University Systems Canada, the parent company of British Columbia-based University Canada West, said she recognizes the challenges faced by some Chinese students, especially those enrolled in an overseas program. but who do not have the authorized financial means to come here.

“Maybe if there was a grace period that could be put in place for these students. Hopefully a university in China can give them credit back so they don’t lose their whole degree,” McLeod said of the students unable to return.

British Columbia’s Ministry of Post-Secondary Education and Future Skills said of the China policy that it “will work closely with institutions to understand how they can best support international students from China during this period “.

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The ministry said it had no data on Chinese students studying remotely.

“As one of Canada’s leading international student destinations, we welcome students from all over China and the world to begin or continue their studies in British Columbia,” he added.

Mark Tanner, managing director of Shanghai-based marketing firm China Skinny, which measures Chinese consumer sentiment for customers, said the government directive was “a symbolic gesture” to show that China is “really back again.” opened”.

This is a positive signal for countries with large numbers of Chinese students like Canada, he said.

“In addition to the direct benefits to education providers, tourism businesses often benefit from visiting friends and relatives of students. When students and their families develop an affinity with Canada, foreign investment often follows, provided the government supports it,” Tanner said.

McLeod of Global University Systems Canada called the China policy a “positive sign” for Canadian educational institutions.

She said they have about 130 Chinese students on campus and hope to increase that number with China being their priority market in 2023.

This report from The Canadian Press was first published on February 11, 2023.

This story was produced with the financial support of Meta and the Canadian Press News Fellowship.

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#Universities #brace #return #Chinese #students #Beijing #orders #Canada

Welcome Matt: Canucks may have to wait closer to deadline before next trade

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Darren Dreger told us yesterday that all was quiet on the Vancouver Canucks trade front.

After making that blockbuster with Bo Horvat last week, the TSN hockey insider reported that there was a break this week, even though the Canucks were looking to get active before the March 3 close.

Things wouldn’t have been calm if Luke Schenn hadn’t returned to that game last night. The defender came out shortly after hitting Artemi Panarin. He looked uncomfortable when he returned and remained standing on the bench.

As a trade target, Schenn’s loss to injury would have angered many fans who wanted the Canucks to sell a right-handed defenseman with intangibles that competing teams seek. He also fits easily into the salary cap, earning just $850,000, and that’s important this year when so many teams are at or near the spending limit.

Wondering if Dreger’s silent report means prospects aren’t ready to pay Vancouver’s price for Schenn yet? And that would line up with last year’s deadline, where activity came late with healthy prices for defenders.

So, thinking out loud here, the deals so far would be third-round picks the Canucks hope to land a second? Is that why we’re talking about a new commitment from Schenn?

Is it a game of chicken where the Canucks pretend to keep the player if their prize isn’t met? Or does new head coach Rick Tocchet have such an affinity for Schenn that they want his leadership after losing Horvat next year?

I’m all for the Schenn trade and suspect there’s enough demand for the Canucks to get their price closer to midnight.

You may need to sweat closer to accidents like last night.

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#Matt #Canucks #wait #closer #deadline #trade

Moving stocks after hours: Lyft, Expedia, PayPal

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light (LYFT)

Lyft sees revenue of around $975 million in the first quarter. That forecast was lower than analysts’ median estimate of $1.09 billion. The ridesharing company’s fourth-quarter revenue rose 21% year-over-year to $1.18 billion, beating expectations of $1.16 billion. The company’s adjusted net loss of $270.8 million increased from a loss of $90.2 million in the same quarter a year ago.

Lyft stock fell 19% after the close of business.

PayPal (PYPL)

Shares of PayPal rose after the payments company released its fourth quarter results. Separately, PayPal has announced that Chairman and CEO Dan Schulman will retire on December 31 this year. Schulman will continue to serve on the board and the company will seek a successor.

PayPal’s total payment volume for the fourth quarter of $357.38 billion was below analysts’ median estimate of $365.41 billion. Net sales of $7.38 billion were up 6.7% year over year and came close to expectations of $7.4 billion.

PayPal’s adjusted earnings per share of $1.24 beat Wall Street analysts’ estimate of $1.20.

Expedia (EXPE)

Expedia shares fell after the travel company reported fourth-quarter revenue of $2.62 billion, below Wall Street expectations of $2.71 billion. Expedia’s adjusted earnings per share of $1.26 also missed estimates of $1.77.

The company said last quarter results were negatively impacted by weather-related issues, but demand was otherwise strong.

Ines is Senior Business Reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre

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Burnaby gangster loses Ontario double homicide and kidnapping appeal

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A trial judge has said Vijay Ganesh Singh and co-defendant John Le were among “the worst group of offenders” after a double murder in 2009 for a shipment of cocaine stolen by a UN gang.

A former Burnaby resident convicted of the murders of two men whose bodies were found in the trunk of a car in Pickering, Ont. in 2009 lost an appeal to the Ontario Court of Appeal.

Vijay Ganesh Singh, who once had homes in Burnaby and Toronto, has been serving a life sentence without the possibility of parole for 23 years.

In 2013, an Ontario jury found him and his co-defendant John Le guilty of two counts of second-degree murder and kidnapping.

The charges relate to the murders of Harjinder Singh Sandhu, 29, and Puneet Singh Chhina, 26, who were tied up, shot and stuffed into the trunk of an abandoned car on Rosebank Road in Pickering on May 5, 2009, documents show judicial. Was found .

Singh, who describes himself as a gangster, was an illegal drug importer.

In early 2009, while living in the Lower Mainland, Singh had 35 kilograms of cocaine shipped from Los Angeles to Toronto.

When the shipment arrived in Toronto, it looked like cocaine bundles, but according to court records, they were actually drywall bundles.

The cocaine belonged to a certain “Ahmun” who, according to court records, was the leader of the United Nations gang, and Singh had to recover the shipment of cocaine, or at least find out who stole it.

He suspected Sandhu of being the “jacker” and lured him to his family in Toronto with promises of cheap heroin.

Chhina had just gone for a ride, according to information presented to the court.

Police executed a number of search warrants during the investigation, including at Singh’s home in Burnaby.

Singh and Le were sentenced in February 2014.

The couple appealed their conviction to the Ontario Court of Appeal last May, arguing that the trial judge in the case failed to give proper instructions to the jury.

Le also appealed his conviction, arguing that it was disproportionate given his role in the murder.

On Tuesday, however, the court unanimously dismissed both appeals, ruling that the trial judge had properly instructed the jury and had not disproportionately convicted Le.

“The trial judge conducted background checks on both perpetrators and found that each had lengthy criminal records, little education and little legal employment,” the verdict reads. “He also confirmed the positive reference letters that were submitted in support of each offender. He then addressed the many serious complicating factors in this case. Considering the case as a whole, the trial judge concluded that “these offenses rank among the worst offenses to describe and that Le and Singh belong to the worst group of offenders”.

Follow Cornelia Naylor on Twitter @CorNaylor

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Here’s how much you need to earn to buy a house in major cities across Canada in 2023

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With house prices and the cost of living both high in Canada, a new report on housing affordability has pinpointed exactly how much income Canadians will need to be able to afford a home by 2023.

Zoocasa has shared which Canadian cities are the cheapest for individual shoppers and how much you need to earn to be able to afford the purchase, and the numbers are pretty grim.

A new report from the real estate platform has identified the cheapest and most expensive cities in Canada for those looking to buy a single-income home.

Zoocasa then compared the income required to buy a home to the median income of residents between the ages of 25 and 64, and in many markets the gap between house prices and income is dramatic.

What salary do you need to buy a house in Canada?

Not surprisingly, Vancouver is the market with the highest income required to buy an average home, which was priced at $1,114,300 in December 2022.

Residents here would need to earn at least $173,250 a year to afford a home, assuming the buyer would pay a 20% down payment and get a 30-year mortgage with an interest rate of 5.14% .

However, as the Zoocasa report notes, the median income of Vancouver residents, at $56,400, is well below the required level.

Similarly, in Toronto, where residents would need to earn $168,150 to afford a $1,081,400 home, the median income is considerably lower at $62,000.

The prices of single-family homes, townhouses and condos are also prohibitive.

Other markets like Victoria, Hamilton-Burlington, Calgary, Ottawa, Montreal and Halifx behave quite similarly, where the income required to buy an average home ranges from $77,400 to $135,675, but the median income does not is only between $48,000 and $51. 6000 range.

The cheapest accommodation in Canada

On the other hand, the median income in some markets is more than enough to cover the cost of owning a home.

In Saint John, New Brunswick, where the median home price is $261,300, residents would need to earn at least $40,613 to afford to buy one.

In town, however, the median income is $48,000, which is more than enough to pay for a single-family home and a condo.

Similarly, residents of Regina earn a median income of $58,000, which is a lot considering the income required to buy a $311,500 home is $48,450.

According to Zoocasa, the five most affordable cities in Canada for potential buyers are:

  1. Regina, Saskatchewan
  2. Saint John, New Brunswick
  3. Edmonton, AB
  4. St. John’s, Newfoundland
  5. Winnipeg, Manitoba

When it comes to buying a home, your money goes a lot further in these cities.

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#Heres #earn #buy #house #major #cities #Canada

Live Stock Market News Updates: Tech Leads with Nasdaq, Stock Futures Rise

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US stock futures rose ahead of Thursday’s open, boosted by mega-cap tech stocks, suggesting a possible turnaround for the indices.

Futures linked to the S&P 500 (^GSPC) gained 0.7%, while futures linked to the Dow Jones Industrial Average (^DJI) rose 0.6%. Contracts on the technology-heavy Nasdaq Composite (^IXIC) rose 1.1%.

Yields on benchmark 10-year US Treasury bonds fell 3.59% on Thursday morning. The dollar index weakened against the euro on Thursday, trading at $102.85.

Stocks ended lower on Wednesday after recent speeches by Fed officials, signaling that further rate hikes are likely to continue and could remain high for an extended period.

Some of the salient comments came from Federal Reserve Governor Christopher Waller, who said trying to meet the central bank’s 2% target “could be a long struggle”. Meanwhile, New York Fed President John Williams has hinted that further rate hikes may be needed as interest rates are “barely in restrictive territory.”

Before the bell, investors will have more information on the jobs front with the release of another data point on jobless claims. Claims are expected to be 190,000 for the week ending February 4, down from 183,000 the previous week.

Amid the stock action, shares of Disney (DIS) rose more than 6% on Thursday morning after the company reported a drop in profits and announced new restructuring plans that include cutting 7,000 jobs. of its workforce and the reduction of costs by 5.5 billions of dollars.

The world’s largest entertainment company posted adjusted earnings per share of $0.99, better than Street’s estimate of $0.74 per share. Disney lost 2.4 million streaming subscribers. Revenue reached $23.5 billion versus $23.4 billion forecast.

Alphabet (GOOG, GOOGL) shares rose 1% on Thursday morning after Google’s parent company unveiled a slew of new AI-powered features for its search, maps and goals apps.

Shares of Affirm (AFRM) are down 19% in premarket trading after the company announced a 19% cut in its workforce. The move comes as the buy-it-now, pay-later company posted a better-than-expected quarterly loss per share. Revenue was $399.6 million versus estimates of $146.9 million.

Shares of Robinhood (HOOD) rose 5% after the company reported weaker-than-expected quarterly results, with revenue hitting $380 million, while analysts’ forecast was $389 million.

Shares of Tesla (TSLA) rose 3% on Thursday morning after a government report found that Tesla’s 2021 fatal crash was caused by excessive speed and not advanced drive-assist features driving Tesla.

Shares of PepsiCo (PEP) rose 1% before the opening bell after the snacks and beverages giant posted earnings per share of $1.67, up from the $1.65 analysts expected. Sales reached $28 billion versus $26.84 billion expected.

Other results on deck for Thursday include Kellogg (K), Lyft (LYFT) and PayPal (PYPL).

Federal Reserve Chairman Jerome Powell responds to a question from David Rubenstein (not pictured) during an onstage discussion at a meeting of the Economic Club of Washington at the Renaissance Hotel in Washington, DC, United States, February 7, 2023. REUTERS/ Amanda Andrade-Rhoades

In corporate news, JPMorgan has also joined a number of companies making personnel changes. The bank said it has laid off hundreds of mortgage officers as it plans to hire 500 small contractors over the next two years.

Looking ahead, investors will brace for Tuesday’s CPI print “given the lack of catalytic information this week,” wrote Andrew Tyler, of the U.S. market intelligence team at JP Morgan. , in a note to customers. As a result, “we may have some choppy trading sessions in store for future trading sessions in 2022 when it comes to bonds. [volume] tended to have the biggest increases around CPI and Fed days.

—

Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv

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StanChart still in play as Abu Dhabi FAB reviews $35 billion bid

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(Bloomberg) —

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First Abu Dhabi Bank PJSC is moving ahead with a potential bid for Standard Chartered Plc after an attempt to suspend previous takeover plans failed to end its ambitions to become a global financial powerhouse.

Codenamed Silver-Foxtrot, Abu Dhabi bank officials are working under the radar on a possible offer after the cooling-off period required by UK takeover rules has passed, according to people familiar with the matter. FAB, as the bank is known, recently carried out due diligence on the London-based lender, the people said, asking not to be identified as the matter is private. Any deal would depend on market conditions and the performance of Standard Chartered’s share price, they said.

FAB – which is worth about twice Standard Chartered – is considering a cash offer of $30 billion to $35 billion, the people said. Any acquisition would be funded by its backers, which include Abu Dhabi’s sovereign wealth fund Mubadala Investment Co. and the emirate’s ruling Al Nahyan family, they said. FAB Chairman Sheikh Tahnoon bin Zayed Al Nahyan is a mighty king and has in recent years taken on a greater role in achieving the emirate’s political and economic goals.

After a period of rising crude oil prices, Abu Dhabi is keen to use its oil profits to transform the city’s financial sector, which lags behind many of its other key industries such as energy, tourism and logistics. Such an attempt would go further than moves by other wealthy Gulf countries to take minority stakes in companies like Barclays Plc and Credit Suisse Group AG.

strong offer

The FAB said last month it had considered a bid for Standard Chartered but was no longer considering a bid. The UK bank’s relatively small market value – around $24 billion compared to FOB’s $43 billion – and the appeal of a business with exposure to some of the world’s fastest growing economies make it a compelling proposition. solid for the Abu Dhabi lender. The fall in the pound also adds to the attractiveness of the bank, which trades at just 0.56 times its book value.

Wall Street veteran Ken Moelis is working closely with FAB executives, key members of Abu Dhabi’s ruling family and some of the emirate’s sovereign wealth funds on a potential deal, the people said. Other bankers working on the plans commute frequently between New York and the capital of the United Arab Emirates, one of the people said.

Nevertheless, finalizing a deal would be complicated and ambitious given the hurdles and size differences between the two banks. Regulatory approvals and compliance are seen as the biggest hurdles to a successful acquisition, the people said. For example, FAB would need US Treasury Department approval to operate Standard Chartered’s dollar clearing license, one of the people said.

Under one scenario being considered, Standard Chartered could be delisted from the Hong Kong and London stock exchanges and the merged bank’s headquarters could be moved from the British capital to Abu Dhabi, the sources said. Such a move is likely to be met with strong resistance in Standard Chartered’s home market, they said.

FAB’s exploration of such a deal shows the growing ambitions of Middle Eastern lenders and the rich oil-rich countries that support them. Success would propel FAB into an emerging markets banking giant with assets of over $1 trillion – and likely into the club of 30 banks deemed systemically important by global regulators. It would also mark a turning point in Chief Executive Hana Al Rostamani’s two-year tenure.

Referring to its January 5 statement that it had considered a possible bid for Standard Chartered but was no longer doing so, an FAB representative said the bank was bound by takeover rules in the UK and Hong Kong. A representative for Standard Chartered declined to comment.

“More legitimacy”

“FAB and the Royal Family are simply reacting to global financial trends and increasing amounts of capital in the Middle East,” said Mark Williams, a Boston University professor and former Federal Reserve Bank auditor. “Along with the state’s goal of acquiring a respected multinational bank comes a desire to gain greater legitimacy in global financial circles while strengthening control over the storage and movement of funds.”

Not only does FAB continue to seek a majority or minority stake in Standard Chartered, but it is also considering acquiring some of the UK lender’s assets or forming a joint venture to help it expand internationally, some people have said. FAB is also looking at other banks, including one in Asia, and investment bankers are also presenting FAB with a number of possible targets, others said.

Standard Chartered has been openly speculating about its future for years. Barclays Plc was reportedly interested in a takeover as early as 2018. In the mid-2000s, it was suggested that companies like Citigroup Inc. and JPMorgan Chase & Co. were interested in buying the bank. Since Bill Winters took the helm, shares of Standard Chartered have fallen by about a third.

Although Standard Chartered is headquartered in the UK and reports primarily to UK regulators, its fate will likely be decided thousands of miles away in Singapore. Temasek Holdings has been the company’s largest shareholder for nearly two decades, giving it the biggest say in what happens to the bank. Abu Dhabi leaders have not discussed their plans with Singapore’s wealth fund, according to people familiar with the matter.

Mubadala and Temasek officials declined to comment. A representative for Moelis did not immediately respond to a request for comment.

Weeks after FAB confirmed its interest in Standard Chartered, Winters told the World Economic Forum in Davos that it was “quite logical” that Middle Eastern banks would be interested in buying European financial institutions. given their relative valuations. thought a deal was likely.

Banks are a “protected species” that make business difficult, Winters said. “We didn’t watch that, and we weren’t interested in that,” Winters said. “The thing with Standard Chartered is that we do very well on our own. Everything is in progress with us.

–With the support of Dinesh Nair, Jan-Henrik Förster and Harry Wilson.

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©2023 Bloomberg LP

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#StanChart #play #Abu #Dhabi #FAB #reviews #billion #bid

Off-duty Surrey police officer dies in Langley: IIO

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Editor’s Note: This story mentions self-harm. When you or someone you know is in crisis, contact Crisis Services Canada at 1-833-456-4566 or 911.

The Office of Independent Investigations said it was called after an off-duty Surrey Police officer died of a serious self-inflicted injury on Wednesday.

The IIO said the RCMP responded to reports of a “man in distress in a store” near Golden Ears Way and 100a Avenue.

Surrey Police Service confirmed the incident happened at an indoor shooting range in Langley.

On Facebook, The Range said it was closed for the rest of the day.

“The man, who has been identified as an off-duty member of the Surrey Police Service, suffered a serious injury which appears to have been self-inflicted while police were inside,” the IIO said. . “The man was later pronounced dead.”

In a statement from SPS, she acknowledged the officer was part of the organization and a person who “chose a career in law enforcement to help others. “

“We are working to support the officer’s family and friends, including his SPS co-workers, during this difficult time,” the statement read.

The IIO said the first steps in the investigation were to examine the role, if any, of police action or omissions in the death.

The officer involved in the fatal incident was being investigated for breach of trust, SPS confirmed, adding it was “the result of an investigation and arrest by the RCMP in Surrey in August 2022”.

‘Surrey Police Service have suspended the officer on pay pending a finding/outcome,’ the statement emailed to Daily Hive read.

If you have any information regarding this incident, the IIO invites you to contact the toll-free helpline at 1-855-446-8477 or via the contact form on the iiobc.ca website.

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#Offduty #Surrey #police #officer #dies #Langley #IIO

First shipment of Australian coal to China at dock in two years

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(Bloomberg) – Australia’s first coal shipment to China in more than two years is about to dock, providing clear evidence of a clear thaw in trade relations between the two countries after months of diplomatic talks.

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The bulk carrier Magic Eclipse dropped anchor off the southern port city of Zhanjiang on Thursday morning, according to Bloomberg maritime data. It transports metallurgical coal mined in Australia to the Chinese market. Zhanjiang is a center of steel production in China.

The Australian government welcomes “any action taken to remove barriers to trade,” Trade Secretary Don Farrell said in a statement on Thursday.

China imposed informal restrictions on the use of Australian coal in 2020 after then-Prime Minister Scott Morrison called for an international inquiry into the origins of Covid-19 in Wuhan earlier this year.

Trade sanctions ordered by Beijing also extended to lucrative agricultural exports such as wine, barley and lobster. China is Australia’s largest trading partner.

However, diplomatic relations between Canberra and Beijing have steadily improved following the election of a centre-left Labor government in May. Commerce Minister Wang Wentao met with his counterpart Farrell on Monday for the first bilateral trade talks in more than two years.

The two ministers agreed to “intensify the dialogue” to ensure “the rapid and full resumption of trade”.

A second shipment of coal from Australia is expected to dock in China later this month, cementing renewed trade ties.

(Updates with Commerce Secretary’s statement in third paragraph.)

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©2023 Bloomberg LP

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