Jan 15 2015

AdvantageBC Report: Establishing an RMB Trade and Investment Hub in Canada

The Working Group on International Financial Services for BC report was finalized and circulated to key federal and provincial officials in October, 2014. Shortly after, the Governments of Canada and China announced that Canada would be designated as the first RMB Settlement Hub in the Americas.

Dec 08 2014

Vancouver Sun: RMB Trading Hub Good News for Business

AdvantageBC featured in the Vancouver Sun: The agreement to establish the hub has taken place in no small part as a result of the work of business associations; AdvantageBC played a vital role in this effort, collaborating with groups across the country to promote a pan-Canadian settlement centre for RMB.

Nov 15 2014

IFR Asia: Canada Ready for Renminbi Push

Canada stole the spotlight in the offshore renminbi market last week, as it became the first North American country to win an offshore renminbi clearing licence. BC has established a working group with the government of Ontario to collaborate with the banking trade associations of BC (AdvantageBC) and Toronto (Toronto Financial Services Alliance).

Nov 10 2014

Business in Vancouver: Redback Agreement will Pave Way for Canadian Investment in Chinese Stock Market

An agreement to establish a Chinese currency-trading hub is expected to spur Canadian exports to China and will give Canadian investors earlier access into emerging Chinese capital markets. AdvantageBC and the Toronto Financial Services Alliance have argued that the currency hub could boost trade with China by $500 million a year, in part because it would allow Canadian companies to directly exchange funds from Canadian dollars to RMB.

Oct 09 2014

Kudos to UK for Becoming Second Western Government to Issue Dim Sum Bond

AdvantageBC extended congratulations to the UK government on their announcement today that they were issuing a bond denominated in the Renminbi, China’s official currency.

In doing so, they became the second Western government to issue a RMB bond, which some refer to as “Dim Sum Bonds”. The government of British Columbia issued a RMB bond in November, 2013.

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Did you know?

  • Vancouver ranked third most livable city in the world by the EIU.
  • All five of Canada’s largest banks have significant operations in BC.
  • Vancouver is among the top-10 wealth management centres in the world.
  • According to latest GFCI, Vancouver is the 5th most powerful financial centre in North America.