Paper mill Machine

Case Study #2 – Pulp and Paper Producer – Exporter of Goods

Business Challenge

  • Company B is a BC-based manufacturer of forest products. While the United States continues to be its primary market, its exports to China have grown significantly in the past decade.
  • Company B’s Chinese buyers have expressed a desire to settle in RMB.

Sector Background

  • China is an important customer for the pulp mills and sawmills industries, which exported nearly $4.2 billion of goods to China in 2014, making it the largest Canadian exporting sector to China.
  • China is the second largest importer of Canadian pulp and paper, after the United States.


  • Company B opened RMB account in Canada to receive RMB payments.
  • Company B set up internal processes to enable trading in RMB products.


  • Company B likes that it can provide its customers flexibility as paying in dollars or RMB depends on the domestic rate of borrowing and the ease of access to the currency.
  • Company B can get a higher rate of interest on RMB deposits than USD or CAD.

Next Steps

  • Open RMB account in Canada.
  • Adjust internal processes.
  • Research and discuss investment alternatives with financial advisors.

Did you know?

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