President and CEO of Canfor, Don Kayne, along with David Calabrigo, SVP of Corporate Development, Legal Affairs and Corporate Secretary, did a visit to China to successfully establish their goal. Their goal was to reinforce Canfor’s position in the China market amidst global economic uncertainties.

Throughout their stay, Canfor representatives conducted meetings with local stakeholders including a productive meeting with FII China and Canada Wood China team. They delved into a variety of topics including market trends, consumer demands, regulatory matters, and sustainable practices.

Canfor’s dedication to the Chinese market has been a cornerstone of its diversification strategy, with origins dating back to 2005 when Don Kayne joined a British Columbia trade delegation to China. At that time, China represented only 1% of Canfor’s export volume. Since then, China has ascended to become one of Canfor’s top five markets in value—ranking alongside the US and Japan—and is now the second largest in terms of volume.

Years of dedicated work by Canada Wood and FII China in key areas like code development, building government relationships, enhancing technical capacity, and marketing initiatives have laid the foundation for this significant progress.

The collaboration with FII China and Canada Wood China focuses on removing barriers in codes and standards, reinforcing advocacy initiatives, and enhancing the transfer of technical expertise to Chinese designers and builders. These efforts are crucial for overcoming short-term market challenges and fostering the long-term growth of Canadian wood in China’s construction sector.

Although the current difficulties in China’s real estate sector have raised concerns among Canadian businesses, we view these challenges as indicative of a transitional period rather than a long-term decline. It is crucial to comprehend the nature and duration of these challenges to secure sustained success in the Chinese market.

Source: canfor.com