Finance committee  Commercial aspects, yes. From an investor aspect we look at Luxembourg as one of the hubs. That RQFII component that Mr. Chilcott spoke of is one that was not there before. We are seeing investor usage as well as increased commercial, which is much easier to get out heads around.

Finance committee  That was the first. Correct.

Finance committee  It certainly is.

Finance committee  No, it doesn't. The hub is virtual. If I could describe the end result which I use with a lot of our clients and internal people, we would like for Canadians, for commercial purposes, to be able to walk into any branch of their financial institution of choice in Canada, and to ha

Finance committee  That's correct.

Finance committee  It's the Chinese supplier to the Canadian retailer, as in my example. There are many other types of examples, but basically we're estimating it at 5% to 8% on average as far as what Canadians who have negotiated ongoing contracts with Chinese suppliers are concerned. What we've d

Finance committee  It was there before.

Finance committee  Yes.

Finance committee  Thank you, Mr. Chair and honourable members of the committee. I'm pleased to be here to participate in this committee's study on the Canadian RMB trading centre. I'm also honoured to be joined here today by my colleagues from the Department of Finance, Export Development Canad