In light of the takeover of Nexen by the China National Offshore Oil Corporation (CNOOC), as reported elsewhere on this portal, the Canadian government has released an updated policy statement outlining a revised approach to state capitalism. Key to this policy statement is the tri-pronged evaluative approach that the Canadian government will use when dealing with investments in the oil sands industry coming from entities owned, controlled or under the direct or indirect influence of another state.

First, the assessment would center on the degree of control or influence a state-owned enterprise would or could exert on the specific business targeted. Second it would evaluate the impact of that control on the industry. Third, it would examine the links between the state-owned enterprise and its home government an assessment that includes a subjective evaluation of the extent to which the government is likely to assert that control.