Canada’s Scotiabank will buy a 20 per cent stake in Bank of Guangzhou for Rmb4.65bn ($728m), swimming against the tide of foreign investors who have been reducing exposure to Chinese banks. Along with providing a vote of confidence in the Chinese banking sector, the deal underscores the relative strength of Canadian banks, which have expanded in the wake of the global financial crisis as many of their US and European peers have cut back. Financial Times