Thank you, Mr. Chair. Good morning, gentlemen.
We are talking about a medium-term opportunity for Canadian investors to have access to RMB-denominated bonds, equities, exchange-traded funds, warrants and mutual funds. So these are Chinese funds.
My question is for the Chief of Bank of Canada's Financial Markets Department. How confident are we in the Chinese banking system? I will elaborate.
We recently saw quantitative easing measures in the amount of $50 billion to save regional Chinese banks, and that initiative was more or less successful. All those products will be denominated and offered through your hub. Can you assure us that this will not lead to asset-backed commercial paper? What kind of a guarantee can the Bank of Canada provide that small Canadian investors will not become victims of things they do not understand or assets that aren't really assets and are fragile?