Why the Bank of China chose to bank on Greater Montréal

Why the Bank of China chose to bank on Greater Montréal                                          

The strong relationships between China and Montreal

Since 1985, Montreal has been the sister-city of Shanghai and has enjoyed an excellent relationship with China’s during its remarkable economic development over this period. The booming import/export volume between China and Québec has created an excellent platform and base for extending our Renminbi (Chinese currency) services.

A robust economy born of economic diversity

Canada and China economies are developing hand-in-hand. As the local air transport and industrial centre, Montréal boasts not only traditional lines of business, but also a variety of emerging industries, including manufacturing and petroleum processing. Aerospace, IT, transportation and retail also all play an important part in the metropolis’ economic life. The upshot of this is that Greater Montréal’s economy tends to be more stable than the rest of Canada.

Location, location, location

Given its location in Eastern Canada, Greater Montréal is close to Toronto, New York and Boston. Europe is also close, both physically and culturally. And the great news for Chinese businessmen looking to invest or expand here is that there will soon be a direct flight from Beijing to Montréal. This means that the Chinese capital will be a mere 13 hours away by plane.

Smart businesses get to profit from a very smart workforce

Greater Montréal is famous for the high standard of its universities. Indeed, over 5,000 Chinese international students currently study here, attracted by the excellent facilities and high-quality teaching. Given that the city boasts 11 university establishments, it is hardly surprising that employers are spoiled for choice when it comes to hiring qualified, creative professionals.

Na Xie, Director, Bank of China, Montréal Branch.

‘Montréal International helped us to understand what Montréal was like and what its economy was like. It’s one of the reasons we decided to come here. We learned that Montréal has a robust economy, more stable than the rest of Canada because it is more diversified. In the coming years we expect more overseas investment in Montréal. The manufacturing sector will pick up too. With the low dollar, exports will improve. Montréal is an important profit centre for the bank and we expect that to continue. Opportunities mean investment.’