China Telecom Americas has announced the founding of China Telecom Canada, headquartered in Markham, Ontario; and the new subsidiary of China Telecom will provide multinational enterprises and international telecom carriers with data, Internet, and value-added services.
As China Telecom's fully-owned subsidiary, China Telecom Americas announced its plans to expand into the Canadian telecom market in 2005 and it opened an office in Toronto. The company is now upgrading the existing office into an independent subsidiary, China Telecom Canada.
Donald Tan, president of China Telecom Americas, said in a statement that some of Canada's most ambitious companies have long been active in China. Many others are beginning to explore the great opportunities China has to offer. These firms need an experienced partner to help them develop and deploy a plan for success in China. For these multinational enterprises, the experienced partner is China Telecom.
He also pointed out that China Telecom Americas has had an office in Canada for more than five years but demand for communication links with China and the Asia-Pacific region has increased. They realized that they need to establish a subsidiary in Canada with improved functions to better serve the customers. Their goal is to help Canadian companies gain success in China.
China and Canada have established long-term and extensive economic ties. Since 2005, the bilateral trade volume between the two countries has been increasing by an average annual growth rate of 8.5%; and the trade volume reached nearly USD51 billion in 2009.