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.

Sep 26 2014

AdvantageBC Announces Research Findings: Potential Benefits of a Canadian-Based Renminbi Settlement Centre

Today AdvantageBC has released the results of a recent study, “Potential Benefits of a Canadian-Based RMB Settlement Centre,” as the organization participates in a seminar held by the Agricultural Bank of China on Cross-Border Renminbi business. AdvantageBC President and CEO Colin Hansen is set to speak at the event, and will share some details regarding the study’s findings. The report concludes that there is significant and growing interest in the establishment of a Canadian-based hub for direct settlement of trade using Chinese currency, the Renminbi – and that such a centre would be in Canada’s and BC’s interest.

Aug 27 2014

Canada seeks to become Renminbi (RMB) trading centre for the Americas

The Toronto Financial Services Alliance (TFSA) and AdvantageBC today announced they would work together, with officials from the federal, Ontario and BC governments, and the financial industry.

In a joint statement Colin Hansen, President and CEO of AdvantageBC, and Janet Ecker, President and CEO of the Toronto Financial Services Alliance, said:

“Canada has many advantages to offer China as a partner in their efforts to encourage the internationalization of the RMB, and as we seek to expand our business and trading relationships with them…”

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Did you know?

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