China wants almost everything Canada has to offer -- except its banks.

　　幾乎加拿大提供的一切資源中國(guó)都想要，不過(guò)它的銀行服務(wù)除外。

　　That is odd. China craves Canada's oil, natural gas, rare-earth metals and potash. Canada's resources also include 1.4 million Chinese-Canadians with plenty of guanxi, the personal relationships that grease the wheels of business in China. And Canada's banks have a solid reputation after coming through the financial crisis relatively unscathed.

　　這一點(diǎn)很奇怪。中國(guó)渴望得到加拿大的石油、天然氣、稀土金屬和碳酸鉀等。此外，加拿大資源還包括140萬(wàn)有著多種“關(guān)系”的加籍華人，他們可利用自己的人際關(guān)系推動(dòng)在華業(yè)務(wù)順利進(jìn)行。而在經(jīng)歷了金融危機(jī)這場(chǎng)暴風(fēng)雨之后，加拿大銀行業(yè)相對(duì)來(lái)說(shuō)可謂是安然無(wú)恙，從而為自己樹(shù)立了可靠的聲譽(yù)。

　　Meanwhile, China's resource-hungry state-owned enterprises have spent more than $10 billion on deals in Canada's energy and mining sectors in the past 18 months, according to the Asia Pacific Foundation of Canada. China Investment Corp., a sovereign wealth fund, announced plans in January to set up its first overseas office -- in Toronto. And Canada last year was second to Brazil for completed Chinese mergers and acquisitions abroad, according to Dealogic.

　　據(jù)加拿大亞太基金會(huì)(Asia Pacific Foundation of Canada)的統(tǒng)計(jì)，中國(guó)渴求資源的國(guó)有企業(yè)在過(guò)去一年半里，對(duì)加拿大能源和礦業(yè)產(chǎn)業(yè)交易已投資逾100億美元。主權(quán)財(cái)富基金中國(guó)投資有限責(zé)任公司今年1月宣布，計(jì)劃在多倫多建立第一個(gè)海外辦事處。數(shù)據(jù)提供商Dealogic透露，中國(guó)去年已完成的海外并購(gòu)從金額上看，加拿大排名第二，僅次于巴西。

　　Yet Canadian banks are largely conspicuous by their absence when it comes to deals involving Chinese companies.

　　然而，當(dāng)交易涉及到中國(guó)企業(yè)時(shí)，加拿大銀行業(yè)卻因缺席而頗為惹人注意。

　　In 2010, Bank of Nova Scotia ranked ninth in overall Chinese-outbound M&A. That was due to a single, large deal. You have to scroll right down the rankings to No. 59 to find the next Canadian bank, Royal Bank of Canada, which advised on two deals worth less than $1 billion in aggregate. So far this year, RBC ranks fifth, courtesy of advising Canada's Encana Corp. on its $5.4 billion investment in a natural-gas joint venture with PetroChina.

　　2010年中國(guó)海外并購(gòu)活動(dòng)銀行賺取的咨詢(xún)費(fèi)排名中，加拿大豐業(yè)銀行(Bank of Nova Scotia)位列第九，而這是源于一筆單獨(dú)的大規(guī)模交易。在這個(gè)排行榜上，下一個(gè)出現(xiàn)的加拿大銀行是加拿大皇家銀行(Royal Bank of Canada)，位列第59，它為兩筆總計(jì)不超過(guò)10億美元的交易提供了咨詢(xún)服務(wù)。不過(guò)今年截至目前，加拿大皇家銀行的排名是第五位，原因是它為加拿大能源公司(Encana Corp.)斥資54億美元與中國(guó)石油天然氣股份有限公司(PetroChina)建立天然氣合資企業(yè)提供了咨詢(xún)服務(wù)。

　　Outside advising Canadian clients who own the assets China wants, there is little evidence Canada's banks have built up the corporate connections needed to create a sustained M&A-advisory business in China.

　　除為那些擁有中國(guó)企業(yè)希望收至囊中的資產(chǎn)的加拿大客戶(hù)提供咨詢(xún)外，鮮有證據(jù)表明，加拿大銀行業(yè)已建立了中國(guó)并購(gòu)活動(dòng)持續(xù)咨詢(xún)業(yè)務(wù)所需的企業(yè)聯(lián)系。

　　Part of the problem is a lack of cross-border understanding. RFP Co., a boutique consultancy in Hong Kong, says only six of 70 top executives at the big Canadian banks have any experience living in Asia.

　　這其中的部分原因是雙方缺乏理解。香港專(zhuān)業(yè)咨詢(xún)公司RFP Co.說(shuō)，加拿大知名銀行的70位高管中，只有六位有亞洲的生活經(jīng)歷。

　　China's state-owned enterprises tend to favor their own banks or bulge-bracket brands like Goldman Sachs. Relevant expertise, such as mining professionals or geologists on staff, appears to count for less, according to Canadian bankers based in Asia.

　　中國(guó)國(guó)有企業(yè)一般喜歡中資銀行或高盛集團(tuán)(Goldman Sachs)等全球知名投行為自己提供咨詢(xún)服務(wù)。駐亞洲的加拿大銀行業(yè)人士表示，相關(guān)的專(zhuān)長(zhǎng)，比如說(shuō)擁有礦業(yè)方面的專(zhuān)業(yè)人員或地質(zhì)學(xué)家之類(lèi)的員工，對(duì)于中國(guó)國(guó)有企業(yè)來(lái)說(shuō)似乎不怎么重要。

　　Canada's big five -- Bank of Nova Scotia, RBC, Canadian Imperial Bank of Commerce, Toronto-Dominion Bank and Bank of Montreal -- do have businesses in China. So far, though, these operations have focused more on wealth management and insurance. Their investment-banking units have tended to focus on deals involving U.S. companies -- understandable, given that 86% of Canadian deals in 2010 involved only Canadians and Americans, according to a recent report from PricewaterhouseCoopers.

　　加拿大豐業(yè)銀行、加拿大皇家銀行、加拿大帝國(guó)商業(yè)銀行(Canadian Imperial Bank of Commerce)、多倫多道明銀行(Toronto-Dominion Bank)和蒙特利爾銀行(Bank of Montreal)這五個(gè)加拿大銀行巨頭都在中國(guó)有分支機(jī)構(gòu)。不過(guò)到目前為止，這些機(jī)構(gòu)所做的業(yè)務(wù)更側(cè)重于理財(cái)和保險(xiǎn)，而其投資銀行部門(mén)的業(yè)務(wù)重點(diǎn)一般是涉及美國(guó)企業(yè)的交易──鑒于普華永道(PricewaterhouseCoopers)最近的一份報(bào)告顯示，2010年86%的加拿大交易涉及的僅為加拿大和美國(guó)企業(yè)，這一點(diǎn)不難理解。

　　China has spotted Canada's potential: Chinese acquisition activity in Canada last year was up 392% from the prior peak in 2007, according to PwC. The question for Canadian banks is whether they can mine China's interest for sustainable advisory fees.

　　中國(guó)已找到了加拿大的潛力所在。普華永道表示，去年中國(guó)在加拿大的并購(gòu)活動(dòng)較2007年的峰值增加了392%。對(duì)于加拿大銀行業(yè)來(lái)說(shuō)，現(xiàn)在的問(wèn)題是，它們能否挖掘中國(guó)企業(yè)對(duì)自己的興趣并賺到可持續(xù)的咨詢(xún)費(fèi)。