“China And Ottawa Strike Deal On Yuan Trading Hub- Goodbye Dollar” – The Globe and Mail

Posted on :Nov 06, 2014

By: Steven Chase

The Globe and Mail

November 6, 2014

Ottawa and Beijing have struck a deal that will see this country designated as a trading hub for China’s yuan currency, a benefit that will lower the cost of doing business for Canadian companies seeking Chinese markets.

The hub, a financial center sanctioned by China to clear and settle transactions in the Chinese currency, would likely be based in Toronto, sources say.

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