Bank of China chooses Vancouver for Canadian trade finance operations

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BEIJING: Bank of China (Canada), a wholly owned subsidiary of the Bank of China, has consolidated its Canadian trade finance services at its International Business Centre in Vancouver. This centre will lead all new trade settlement business for the Bank of China (Canada).

“The Bank of China has recognized the value of doing business in Vancouver and British Columbia,” said Premier Christy Clark. “The Jobs and Trade Mission is about making British Columbia the gateway to North America and the world for Asian trade and investment. By expanding our trade and business relationships, we will continue to drive economic activity throughout the province.”

Building on this positive working relationship, Clark and Minister of International Trade Minister and Minister Responsible for the Asia Pacific Strategy and Multiculturalism Teresa Wat met with Tian Guoli, Chairman of the Bank of China, at their Beijing headquarters this week. During the meeting, they discussed opportunities to deepen British Columbia and China’s trade and investment relationship and identify further opportunities to co-operate.

“Bank of China envisions further growth for its Canadian operations with the expanding economic activities between Canada and China, and British Columbia has always been the prime choice when Asian enterprises establish their Canadian subsidiaries,” said Jacqueline Yam, Vice President, Greater Vancouver Area, Bank of China (Canada). “By registering our International Business Centre under British Columbia’s International Business Activity program, we can further expand our presence here and contribute to the local community.”

“Trade missions and our expanded international trade and investment network allow us to promote British Columbia as an attractive destination for Asian companies looking to locate head offices for their North American operations,” said Wat. “We are focusing on major Asian companies with a strategic interest in investing in British Columbia and we are making sure they know about our investment and location advantages.”