Bank executive: Our bank has opened three branches in Vancouver in response to increasing demand for convenient services from the growing Chinese community in the region. Recently, more Chinese companies have come to Vancouver and become part of the local Chinese community. Their need for business financing presents new opportunities for Chinese banks, especially trade financing, which has become an extremely significant part of our business as trade between the two nations grows.
Furthermore, as the Chinese currency, RMB, grows in popularity internationally, Vancouver is likely to become one of the choices for an offshore RMB business centre in North America. Recently, our head office selected Vancouver as the site for our bank’s International Business Centre to consolidate all Canadian trade finance services and lead all new trade settlement business for our bank. In addition, BC was the first government outside of China to successfully issue the RMB Dim Sum bonds,iv signalling that more RMB business opportunities may arise here in BC.
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