Bank of China marks 20th in Van­cou­ver

China Daily (Canada) - - FRONT PAGE - By MAYA LIU in Van­cou­ver For China Daily

The In­ter­na­tional Business Cen­ter of Bank of China (Canada) in Van­cou­ver was es­tab­lished on Jan 9 to for­mally pro­vide com­plete RMB cross-bor­der prod­ucts and ser­vices to lo­cal cus­tomers across Canada.

The an­nounce­ment was made by Wang Lijun, pres­i­dent and CEO of BOCC, and Teresa Wat, Bri­tish Columbia’s min­is­ter of in­ter­na­tional trade, Asia Pa­cific strat­egy and mul­ti­cul­tur­al­ism, at the 20th an­niver­sary cel­e­bra­tion of the bank’s Van­cou­ver branch at the Van­cou­ver Art Gallery.

“We’ll cen­tral­ize all in­ter­na­tional business of our Cana­dian branches here in Van­cou­ver be­cause we’ve got qual­i­fied staff and good tax in­cen­tives here,” Wang said. “There­fore, I be­lieve we can de­velop our in­ter­na­tional business here very well.”

Wang also em­pha­sized the im­por­tance of the ren­minbi gain­ing trac­tion as a global cur­rency.

“Be­sides the RMB off­shore cen­ter in Toronto, we also have a big ad­van­tage to do our RMB business here in Van­cou­ver — an in­ter­na­tional hub,” he said.

About 100 po­lit­i­cal and business fig­ures gath­ered at the Van­cou­ver Art Gallery on Jan 9 for the an­niver­sary cel­e­bra­tion. Among the at­ten­dees were Yu Shan­jun, chief eco­nomic and com­mer­cial con­sul of the Con­sulate Gen­eral of China in Van­cou­ver; and Sun Shengjun, pres­i­dent of the Canada China Cham­ber of Com­merce (Bri­tish Columbia).

Wat called the es­tab­lish­ment of the bank’s In­ter­na­tional Business Cen­ter “a strong val­i­da­tion of Bri­tish Columbia and Van­cou­ver as a trad­ing hub for China in the whole of North Amer­ica”.

“China’s econ­omy con­tin­ues to grow, and as the yuan be­come an in­creas­ingly pow­er­ful cur­rency, we an­tic­i­pate that our ex­ports and con­nec­tion with China will con­tinue to grow,” Wat said, be­fore pre­sent­ing a let­ter of ap­pre­ci­a­tion for BOCC’s con­tri­bu­tions to the Van­cou­ver-area econ­omy.

Yu ac­knowl­edged BOCC’s role in “the fa­cil­i­ta­tion of bi­lat­eral trade and two-way in­vest­ment be­tween China and Canada”.

Yu said that with the es­tab­lish­ment of the ren­minbi off­shore cen­ter in Toronto and the business cen­ter in Van­cou­ver, the business ca­pac­ity of the BOC will be fur­ther en­hanced.

The BOCC’s Van­cou­ver branch opened in 1995, fol­low­ing the first Cana­dian branch in Toronto in 1994. The bank now has 11 branches across Canada, three in the Greater Van­cou­ver area.

Wang Lijun,

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