The Conservatives are saner (for lack of more politically correct term) than the GOP, and Canada’s immigration policies have arguably led to better political integration of visible minority groups in general. It probably also helps that Canada doesn’t have a history of racialized slavery and resultant political polarization.
To my knowledge the Chinese Canadian community is more disproportionately composed of wealthy Chinese/Taiwanese/Hong Kong emigres, international students in university, etc compared to Chinese Americans. This may skew perceptions of political leanings.
I don't think your explanation is wrong per se, but its a bit incomplete. It sort of gives the impression that Conservative appeal to Chinese Canadians is solely based on "keep taxes low, business friendly". You'd be surprised how much of Tory campaigning in Chinese communities is based on 'values'. The last couple federal elections, left leaning publications have obtained Conservative Mandarin or Cantonese campaign materials. Common themes include drugs, religious right stuff for Chinese Evangelicals, and implying the Liberals don't support immigrant values.
I don’t have any hard evidence but I suspect this is also true for Indian Canadians.
South Asians in Canada tend to vote left weirdly enough, albeit with a bit more willingness to swing right than their American counterparts. It's a bit odd given that Chinese Canadians vote ~ 20% more Conservative than the general population.
Well It'd depend on the class of Chinese Canadians, right? More working class/middle-class voters would be attracted to right-wing campaigns drugs, law and order, hard work, welfare dependancy same-sex marriage, not on abortion or religiosity though. While more upper-middle class Chinese would vote for a stable business environment.
In Australia within immigrant groups (not being racist) it seems if you're white Asain you're 60-40% liberal, if you're brown Asian you're 65-35% Labor. I do not know any substantial difference in their political views, though white Asians tend to be more anti-left.
It doesn't even align with the country's political views (exactly anyway), BJP/Sikh Nationalists supporting Labor and Chinese communists whose family members were supportive of the cultural revolution supporting Liberal.