Canadas huge wave of detention of Meng Wanzhou, Huaweis chief financial officer, has spread to domestic enterprises. On Dec. 6, the shares of Canadian goose, a Canadian down jacket maker and listed company on the New York Stock Exchange, plunged 8.44%. On Friday, their closing price fell 6.64%. They closed at $58.45 per share, and continued to fall in early trading on Dec. 10. In sharp contrast to the decline of Canadian geese, the Hong Kong stock price of Boston, a well-known Chinese down jacket brand, has performed impressively, rising nearly 14% in the past week. Share prices hit a five-year high.
Canadian goose brand has been gaining momentum in China for some time. According to Shuang11 data of Alibaba, the Canadian geese who had just arrived at Skycat this year had about 500,000 visitors on Shuang11, equivalent to 3/4 of the Vancouver population.
The Huawei incident has worried many Canadian enterprises. According to the data obtained by Canadian News Agency in 2015, there are 531 places where Canadian enterprises operate in China, including energy, education and agriculture. The main enterprises in China include Manulife Finance Group, Thomson Reuters and Hamburg King Restaurant Brand International. Besides Canadian geese, the Chinese market is also very important for big Canadian enterprises such as Bombardier and Magna International.
Some experts also pointed out that the Meng Late Boat Incident may affect Chinas investment in Canada in the future. Huawei had planned to invest heavily in Ontario, doubling the size of the Huawei Research Center in the province by 2020 and adding 250 jobs.
Source: Global Times Responsible Editor: Han Jiapeng_NN9841