Toronto's Yuan Clearing Hub Sees Slow Trading Start

Flows are up, but Canadian companies still slow to adopt RMB
Access to China’s corporate bond market may change picture

An employee arranges genuine bundles of Chinese one-hundred yuan banknotes at the Counterfeit Notes Response Center of KEB Hana Bank in Seoul, South Korea, on Monday, Aug. 14, 2017. China's factory output and investment slowed somewhat in July, according to data released today, yet the yuan appeared not to take the data as negative, if in fact it's paying attention to it at all.Photographer: SeongJoon Cho/Bloomberg

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December 18, 2017 at 12:00 AM EST

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Three years after it opened amid much fanfare with the promise of paving the way to more trade between Canada and China, the yuan hub in Toronto has proven to be a bit of a dud.

Even as Prime Minister Justin Trudeau makes overtures to launch free trade talks with the world’s second-largest economy, Canadian firms have been slow to warm to the hub, which allows them to settle transactions in the Chinese currency with Chinese business partners.

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