Finance committee  That is correct, except in this case we did our RMB bond as a matched book trade where we borrowed the proceeds in RMB and actually invested those proceeds into an RMB-denominated investment, so we didn't use the proceeds in this particular case for financing capital spending her

Finance committee  Well, it's meat and potatoes. It starts with forums. For example in Vancouver, our counterpart to the Toronto Financial Services Alliance—a group called AdvantageBC—will host a forum for business and financial institutions in Vancouver to showcase the RMB hub opportunity. Our gov

Finance committee  It builds on a foundation that was set earlier in the decade by this government. We have a very large Asian community in British Columbia. The fact that there is such a large community and such a large exchange of peoples, as well as now tourists who travel between China and Brit

Finance committee  Right. We would agree with that. That's why from the outset Minister de Jong made it a mission to connect with the Province of Ontario, particularly with Toronto, which is currently the financial centre in Canada. We quickly concluded with the Toronto Financial Services Alliance,

Finance committee  Traditionally, when we go into the offshore markets into dollars, or euros, Swiss francs, or Aussie dollars, we're always looking as to how we can swap the liability back into Canadian dollars—that's our traditional approach to the capital markets. We're looking there to solve fo

Finance committee  Right. I agree. Yes. What it can also do is generate RMB deposits here in Canada. They'll be looking for more interesting things to invest in, or higher, more safe investments, like British Columbia bonds. There could be a favourable synergy there, too.

Finance committee  Exactly.

Finance committee  I can stop there and just say that the observation has been made that currently, the use of the RMB in Canada is not as significant as in other jurisdictions around the world, and it will, therefore, be very important that the next couple of years be spent on marketing and educat

Finance committee  I can. Thank you very much.

Finance committee  Bonjour. Thank you for the opportunity to speak to you today about Canada's new RMB hub for North America. I applaud the committee's interest in the hub and particularly in diving into the potential opportunities that the hub affords for Canada's economy. British Columbia, bac

Finance committee  It's 5:45 a.m.