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RMB clearing bank launched in Canada

RMB clearing bank launched in Canada

March 26,2015
 

TORONTO -- The renminbi (RMB) clearing bank in Canada, ICBC Canada, was officially launched on Monday evening. This is the first RMB trading hub in North America and in the western hemisphere. 

The hub is the latest step in a Canada-China relationship now worth $78 billion in two-way trade. 

Canada's Finance Minister Joe Oliver launched the bank at an event in Toronto hosted by the Industrial and Commercial Bank of China (ICBC). 

ICBC

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