Alberta, Canada Will Issue RMB Bonds To Strengthen Ties With China

< p > according to the Bloomberg April 10th report, Alberta, Canada will issue RMB bonds and strengthen ties with the world's second largest economy.

According to reports, Alberta will be the second province to issue RMB bonds after British Columbia.

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< p > "I have been working hard to push this in the past year and a half," said Alberta finance minister Doug Horner. "Now the cost of this time is too high. We are concerned that we will issue RMB bonds."

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< p > at present, only RMB href= has been issued in British Columbia province except a href= "//www.sjfzxm.com/news/index_cj.asp" > Canada < /a >.

Horner said he followed the 2 billion 500 million yuan issue of one-year bonds and identified Renminbi bonds and Australian dollar bonds as a way to attract foreign investors in the province.

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"P" reported that governments at all levels in Canada are seeking to deepen ties with China from the Federation to the provinces, because China is an important market for natural resources in Canada, including Canada's main export crude oil.

According to the Canadian Chamber of Commerce, Alberta is Canada's main oil producing area. Due to the lack of integration with the international market, heavy crude oil is sold at a discount in the province, and oil producers lose $45 million 900 thousand a day.

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< p > according to Bloomberg industry information, RMB bond issuance increased 97% in the first quarter of this year as China promoted RMB's application in < a href= "//www.sjfzxm.com/news/index_cj.asp" > International Finance < /a >.

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< p > Horner said that Alberta has not issued a href= "//www.sjfzxm.com/news/index_cj.asp" RMB bond > /a > until now, because the cost of converting RMB into Canadian dollar is too high.

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< p > "we may have the chance to do this in the future," he said. "We issued Renminbi bonds for practical purposes, and it is a financing tool.

We do not regard it as an identity or trade issue.

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< p > related links: < /p >

< p > with the rapid development of cross-border payment business, the Shanghai headquarters of the people's Bank of China launched the cross-border RMB payment business of Payment institutions in Shanghai free trade area in February this year to meet the increasing demand for cross-border RMB payment services.

The cooperation agreement reached between East Asia China and Sheng Fu Tong means that it has become the first foreign bank to sign a contract with the third party payment agency in the Shanghai free trade area.

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< p > according to the reporter, in the cross-border RMB payment business of e-commerce, banks mainly deposit and manage the customers' reserve funds of the third party payment companies, and provide related capital payment and payment services.

In East Asia, China will cooperate with the third party payment companies to carry out cross-border e-commerce RMB payment business. It can expand its international trade payment business and other cross-border RMB settlement business of current account, and further expand its business space.

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"P" not only that, East Asia China can also provide convenience for individual customers in its territory, allowing customers to directly use RMB to carry out "Hai Tao", to pay for overseas study and to buy overseas tickets, hotels, etc.; in East Asia, Chinese companies can directly use this channel to obtain payment for personal currency, and use cross-border e-commerce to make RMB settlement.

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< p > in addition, the reporter was informed that the Shanghai regulatory authority of the China Banking Regulatory Commission has formally approved the development of the personal business of the branch of East China Shanghai FTA pilot area recently.

As the business scope of sub branch of East China's Shanghai free trade pilot zone is increasing, the sub branch will expand more new customers both at home and abroad.

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