Canada and China’s new Foreign Investment Promotion and Protection Agreement (“CC-FIPA”) came into force on October 1, 2014. This work discusses some of the main benefits to be gained from building stronger investment relations between Canada- China, as well as a Canadian perspective on the main investment risks that are most likely to impede either country from achieving the full potential in their investment relations. Against this backdrop, this work then examines those provisions in the CCFIPA that are most central to promoting Canada-China investment benefits, as well as those provisions that are most relevant to protecting against the investment risks in Canada-China relations.