Finance committee  Yes, because China is now developing a new system. It's the settlement and clearing system. Under this system, all clearing banks, including the Toronto clearing bank, including us, can link to this system directly so the transaction can be done, whereas now it is mostly in the

Finance committee  No, it's a different market. Canada is a different market because of the currency. The RMB hub, especially for the currency you want to set up for the RMB centre, is between Canadian dollars and the RMB. It has no effect on other markets, like London.

Finance committee  I think if the trade volume between the two countries can be continually increased, Canada will continue to have an advantage.

Finance committee  Now, I think most important financial centres have already reached agreements with the Chinese central bank. In the future this RMB hub will be extended to certain other countries, I think especially in Europe and other countries in Asia.

Finance committee  In the U.K.? I'm sorry, in Europe?

Finance committee  Yes, continental Europe.

Finance committee  Yes, but they can renew when it expires.

Finance committee  Yes. There are 11 agreements renewed by this agreement, because for the swap agreement we have an expiry date of three years. After three years, the central government will review this agreement. Now 11 agreements have already expired, and the central bank has already reviewed th

Finance committee  That's an interesting question. My Chinese clients asked me, I think in the past year, especially after the great Nexen deal was finished and Canada announced some information to the Chinese enterprises. Those kinds of messages slowed down the investment activity from China becau

Finance committee  I think China is now paying more attention to the renminbi hubs across the world; 11 RMB centres have already been set up. Now China will move forward with this strategy and will promote the RMB further worldwide. The central bank in China is now developing the new system for RM

Finance committee  Yes, I think the Chinese government will take major steps to liberalize the RMB in the future.

Finance committee  Okay. The last topic is about how CCB Toronto can help. We can help in many ways, including asset management, liability management, clearing and settlement, and treasury management. In 2014, we were the second in RMB clearing service by volume in the industry. We also issued s

Finance committee  Hello, everyone. Today I'm very pleased to take part in this meeting and share my point of view about the RMB hub with members of the finance committee and also with all the experts from related industries. Today I would like to talk about the following aspects of the RMB hub an