Yes. The reason this is important is that when you have a Canadian company operating in a country like China, you have banks and other companies from other OECD-developed countries also operating in China. These other companies have access to financial structures that are similar to Barbados, as you say, and other offshore jurisdictions.
What happens is the company that uses these offshore jurisdictions has a lower tax rate, a lower cost of capital, and that Canadian company is therefore able to compete in a jurisdiction like China. If a Canadian company were not allowed that structure, it would be disadvantaged relative to a British, French, or German bank or company that had access to the same structure.