Carney touts Canadian banking system

BEIJING — Canada’s central banker was to tout the country’s financial system as a model worthy of emulation today during a speech in China.

BEIJING — Canada’s central banker was to tout the country’s financial system as a model worthy of emulation today during a speech in China.

Bank of Canada governor Mark Carney was scheduled to deliver a speech to the Canadian Financial Forum in Beijing on how countries can adopt the Canadian model to build a “resilient financial system.”

Carney’s presentation says sound policy frameworks, structural advantages and a balanced economy stabilize the country’s financial system while others faltered.

Slides provides ahead of Carney’s talk showcase how Canada has lowered its federal debt as a percentage of gross domestic product since the mid-1980s, seen its consumer price index fall over time, and leveraged Canadian banks.

The presentation also highlights the strength of Canada’s mortgage market.

The central banker is accompanying Finance Minister Jim Flaherty and a coterie of key government officials and financial executives on a one-week trip to China.

In a speech to the same forum, Flaherty said Canada and China have common interests such as open trade and global financial stability.

“We can and should work together to provide global leadership in these areas, in forums like the G20,” Flaherty said in a prepared text of his speech.

“The G20 will continue to focus on the global efforts to turn the page on the recession.”

The delegation hopes to spur Chinese investment in Canada’s resource and financial service sectors.

The trip follows on recent, high-profile visits to China by Trade Minister Stockwell Day and Foreign Affairs Minister Lawrence Cannon.

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