RMB clearing bank launched in Canada.docx
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RMBclearingbanklaunchedinCanada
RMBclearingbanklaunchedinCanada
TORONTO,March23(Xinhua)--Therenminbi(RMB)clearingbankinCanada,ICBCCanada,wasofficiallylaunchedhereonMondayevening.ThisisthefirstRMBtradinghubinNorthAmericaandinthewesternhemisphere.
ThehubisthelateststepinaCanada-Chinarelationshipnowworth$78billionintwo-waytrade.
Canada'sFinanceMinisterJoeOliverlaunchedthebankataneventinTorontohostedbytheIndustrialandCommercialBankofChina(ICBC).
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