Canada gets organised in quest for Americas RMB hub
Canada’s financial sector is lobbying for a $30bn swap line with China and an Rmb80bn ($13bn) RQFII quota. Alongside the country’s provincial governments, the industry has been making a strong case for why Canada would strongly benefit from the establishment of a formal RMB hub in the country. This week's pricing of a second offshore RMB bond by the government of British Columbia (BC) may well prove to be the tipping point.
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