Chinese diplomat addresses Canadian business owners on economic opportunities in China

TORONTO, Oct. 9, 2013 /CNW/ - Yesterday, Yu Jianwei, Commercial Counsel of the Chinese Consulate General in Toronto, addressed a forum of more than 200 local business leaders at a special event hosted by RBC. Yu, along with Director of Hong Kong Economic and Trade Office Gloria Lo and other business leaders, addressed economic and trade development opportunities for Canadian businesses looking to do business in China, including industry sector overviews and Canadian and Chinese government support programs for business owners.

"Based on the current growth pace, China will be the second largest market in the world after the United States in 2015" said Yu. "The Chinese marketplace represents an untapped opportunity for many Canadian business owners, but to be successful, it's very important that they approach the opportunity mindful that there are cultural differences at play."

"The event today showed many businesses the importance of the Chinese market" said Tina Sarellas, Regional Vice President of Commercial Banking at RBC. "As Canada's largest bank, we have a role to play in helping our business clients grow in new markets. We facilitated today's event to help our clients take the first step."

The event also featured several business leaders who have been successful in China. They shared insights on logistics, supply chains, government support programs, Chinese business etiquette and how to use Hong Kong as a gateway to enter the Chinese market.

"Hong Kong is an excellent place for business, an ideal platform for investment, and offers tax benefits" said Lo. "With strong ties with the mainland and new cross-border infrastructure, InvestHK can help Canadian businesses take the first steps."

Businesses looking for more information about doing business in China are encouraged to visit rbcroyalbank.com/commercial/global for reports and financial service solutions to get them started. They can also call 1-800-769-2520 to schedule a time with a specialized Commercial Account Manager at RBC to learn about the financial solutions available when doing business abroad.

ABOUT RBC

Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada's largest bank as measured by assets and market capitalization, and are among the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, and investor services and wholesale banking on a global basis. We employ approximately 80,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 44 other countries. For more information, please visit rbc.com.

RBC supports a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2012, we contributed more than $95 million to causes worldwide, including donations and community investments of more than $64 million and $31 million in sponsorships.

SOURCE: RBC

For further information:

Mark Hamill
Director, Communications, RBC
416-974-3900
mark.hamill@rbc.com


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