Asia Pacific News Center 2023-6-26 14843
The by-election for the mayor of Toronto, Canada is set to begin in May 2023. Early voting will take place from June 8th to 13th between 10 a.m. and 7 p.m., and the final voting day will be on June 26th.（https://www.toronto.ca/city-government/elections/by-election/by-election-candidate-list） Currently, the campaign is underway with 102 candidates successfully registered after the May 12th deadline. This marks the highest number of registered candidates for a mayoral election in the merged city of Toronto, surpassing the previous record of 65 candidates in the 2014 election. Of the 102 candidates this year, approximately eight are of Chinese descent based on their English names, including Tang Weizhen, a former financial entrepreneur, community activist, and philanthropist who has lived and worked in Toronto for over 30 years. Tang's political philosophy is focused on advocating for increased welfare and resources for Toronto citizens while promoting sustainable urban development. He believes that Toronto and Canada should strengthen economic ties with many countries, including China, as recently expressed by Warren Buffett at the Berkshire Hathaway annual meeting. Tang's candidacy has attracted attention from over 300 English-language media outlets in the US and Canada, and if elected, he would become the first mayor of Chinese descent in Toronto's history, which would be an important milestone for Chinese participation in Canadian politics.
On June 23, the internationally renowned news agency Associated Press released an English-language campaign news article titled "Mayoral Candidate Weizhen Tang: Promising Economic Prosperity for Toronto." The news was reported by prominent American media outlets such as Yahoo.com, Digital Journal, Political Updates Today, Global Finance Observer, Financial Markets Network, Modern Finance Online, Publishers Post Observer, Global Finance Herald, Fintech World Post, American Business Times, World Politics Report, Today in Banking, The Political Ledger, Global Politics Reporter, Finance Industry Today, Investor News Updates, Today in Law, Today in Finance, World Wealth Journal, Elections Post Observer, Political Reporter Online, The Government Daily Review, and Campaigns and Elections News.
（ Associated Press）
Meanwhile, nearly 30 Canadian English-language media outlets such as Canadian Insider, Canada Standard, Ottawa News, Toronto Telegraph, Montreal News, Vancouver Star, Edmonton News, Calgary News, BC Post, CEO, Book World Canada, Canadian Business Today, Political Journal Canada, The Canada Finance Journal, Canadian News Online, The Canadian Reporter, Canada Online News Network, Canadian Government in the News, Canadian News Journal, Today from Canada, Canadian Herald Tribune, News From Canada, Canadian Times Journal, Canada News Journal, Maple Leaf Times, and Bay Street have also reported on this.
Mayoral Candidate Weizhen Tang: Promising Economic Prosperity for Toronto
Canada & World Report
Weizhen Tang, a biologist, academic, and financial entrepreneur, has recently announced his candidacy for the mayoral race in Toronto. With a bold promise to revitalize the city’s economy, Tang is determined to “Make Toronto rich again.” Drawing upon his unique life experiences and success in the financial sector, Tang believes he possesses the necessary skills to lead the city towards economic prosperity.
Tang, a graduate of Central South University of Forestry and Technology in China, excelled as an assistant professor of microbiology. His journey continued as a visiting scholar at the University of Ohio, culminating in a Master’s Degree in Biology from the University of Waterloo in 1992. Tang’s expertise flourished as a researcher, unraveling human genetic diseases at prestigious institutions in Toronto.
In 1996, Tang decided to venture into the finance world and founded Weizhen Tang & Associates, Inc. Starting with a modest fund of $4,000 CDN, Tang’s firm experienced steady growth, reaching an impressive $4 million within a year. His financial acumen captured the attention of Canadian investment firm Gorinsen, leading to a successful partnership in making stock investments for retail investors. Despite facing setbacks in the Asian financial crisis of 1997, Tang displayed resilience and reimbursed the losses of his partners and clients. Tang’s reputation as a financial expert continued to flourish, and in 2006, he published his book “My Way to Buffettian Wealth” (Chinese edition) and “The Chinese Warren Buffett” (English edition) published in 2018.
In 2007, Weizhen Tang Financial Corp. was established in Toronto, followed by the official approval of Weizhen Tang Corp. by the Ontario Securities Commission (OSC) as a registered professional financial and limited market dealer in 2008. Tang’s commitment to community involvement was evident through his active participation in charitable activities, including supporting disaster relief efforts in China and local community initiatives.
However, Tang’s journey faced a setback during the global financial crisis. By 2009, his assets under management had reached nearly 60 million Canadian dollars, but unfortunate market circumstances led to the loss of his funds and faced legal challenges. Even today, Tang still maintains his innocence for the treatment he experienced.
Following his complete freedom in 2017, Tang became determined to utilize his rich life experiences for the betterment of Toronto. He strongly believes that the city requires effective leadership to address its political, economic, and social challenges. Drawing inspiration from former Mayor Mel Lastman, Tang emphasizes the importance of having business-oriented individuals in city council positions rather than mere “talk show” stars.
With Toronto facing a significant deficit of 1.5 billion dollars and an immediate challenge of 880 million dollars in 2023, Tang has unveiled his ambitious campaign platform. He aims to generate 10 billion dollars for the city within a year by investing in US equity index ETFs, specifically SPY. This investment strategy is intended to replace all property taxes, cover free TTC services, and address the deficit. Additionally, Tang promises to restore trust, preserve culture and passion, and prioritize the happiness and well-being of Torontonians.
Tang’s vision extends beyond Toronto’s borders, as he advocates for strengthening international cooperation with the United States, China, and other countries. He envisions Toronto as a model of international collaboration, highlighting China’s potential as a valuable partner for global economic development.
Tang’s candidacy has sparked both support and skepticism within the city. While some admire his entrepreneurial spirit and determination, others question his ability to effectively govern based on his past legal troubles. Nevertheless, Tang remains resolute in his belief that his experiences will greatly benefit Toronto’s management and propel the city towards a prosperous future.
The highly anticipated Toronto Mayoral By-election is nearing its conclusion, with June 26 marking the last day for eligible voters to participate in this pivotal democratic event.
Throughout the campaign, candidates have engaged in spirited debates, showcasing their visions for the future of Toronto. The electorate has been actively following the discussions, weighing the merits of each candidate’s proposals and platforms.
As the deadline approaches, it is crucial for all eligible voters to exercise their democratic right and have their voices heard. The outcome of this by-election will shape the future trajectory of Toronto, impacting various aspects of governance, infrastructure, and community development.