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Pacific Finance Summit - Canada's RMB Advantage

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For the seventh consecutive year, the World Economic Forum has rated Canada in 2014 as having the world’s soundest banking system. Four Canadian cities rank among the top 30 of the Global Financial Centre Index – Toronto (#11), Vancouver, (#14), Montreal (#18) and Calgary (#26).

Adding to Canada’s significance in global finance, the Peoples Bank of China designated Canada as China’s first RMB Settlement Hub in the Americas. This places Canada among a select group of countries to be allocated a Renminbi Qualified Foreign Institutional Investor quota, which will allow companies in Canada to use RMB to invest directly with China’s capital markets.

In combination, these successes offer Canada an opportunity to grow both its status as a global financial centre and our exports to China and Asia. The ability to directly trade in what is expected to be one of the world’s top three currencies within five years will add as much as $32 billion in exports for Canada and grow the country’s financial services footprint in Asia.

The Pacific Finance Summit, organized by CityAge and co-hosted by AdvantageBC and the Province of British Columbia, will look at this major opportunity and outline how Canada’s financial sector and business leaders can benefit from the massive opportunity that Canadian based financial institutions and businesses have at their doorsteps – as long as we capitalize on it.

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