Solving Cross-Border Financial Challenges for Entrepreneurs: ICBC (Canada) Hosts the 2026 RMB Internationalization Forum, Co-Organized by CCCA
On the afternoon of April 9, 2026, efforts were made to address the pain points of cross-border finance for entrepreneurs.
The 2026 RMB Internationalization Seminar, hosted by the Industrial and Commercial Bank of China (ICBC) Canada and co-organized by the Canada-China Construction Association, was held at ICBC's 333 Bay headquarters. Representatives from approximately 20 Chinese-owned companies in the Greater Toronto Area, spanning construction engineering, real estate development, international trade, building materials supply, and investment management, attended the event and engaged in in-depth discussions on the application scenarios and development opportunities of RMB business in Canada. The seminar aimed to address the pain points of cross-border finance for entrepreneurs.
Cross-border financeReal pain points
The Canada-China Construction Association brings together a large number of entrepreneurs who are engaged in industry. In daily operations, especially in core areas such as building material procurement and project settlement, cross-border remittances are an issue that almost every entrepreneur cannot avoid. Slow arrival times, high exchange rate costs, additional fees from multiple currency conversions, cumbersome interbank operations, and the need to frequently visit banks... these issues may seem like minor details, but they do significantly impact the efficiency of a company's cash flow and operating costs.
With these members' real needs in mind, the association actively participated in this matchmaking event, hoping to find better solutions for everyone.
Lu Yuan, CEO of Industrial and Commercial Bank of China (Canada), stated that as China continues to promote high-level opening-up, the use of the RMB in international trade and cross-border investment is constantly expanding. As the first RMB clearing bank in North America and the only RMB clearing bank in Canada, ICBC Canada will continue to play its role as a financial bridge, providing more convenient and efficient RMB financial services to companies in Canada, helping them optimize cross-border fund management and reduce exchange rates.
According to reports, the Industrial and Commercial Bank of China (ICBC) has consistently ranked among the world's leading banks for many years and is the world's largest commercial bank by assets. Leveraging its parent bank's strong global network and comprehensive financial services capabilities, ICBC Canada has been deeply rooted in the local market for 16 years since its establishment. Currently, it has branches in Toronto, Montreal, Calgary, and Vancouver, providing comprehensive financial services to corporate and individual clients. Furthermore, leveraging its RMB clearing bank license, it provides efficient cross-border RMB clearing services to the North American market.
In his address, Wen Wenwei, Founding President of the Canada-China Construction Association, stated that over the past ten years, the association has been dedicated to promoting resource integration and exchange within the construction industry. Its member companies are widely distributed across construction, project management, real estate development, and related industry chains. This seminar provides an important platform for companies to understand RMB financial services and cross-border business solutions, which will help further promote industrial cooperation and business exchanges between Canada and China.
During the thematic sharing session, the heads of ICBC Canada's Corporate Banking Department and Treasury Department introduced the RMB corporate banking product system and cross-border financial services, respectively, and shared application models of RMB in cross-border trade settlement, engineering project cooperation, supply chain procurement, and corporate fund management, using practical examples. Following this, participating company representatives exchanged views and discussed topics such as RMB settlement needs, cross-border trade financing, and exchange rate management.
Industrial and Commercial Bank of China (Canada) has long been committed to serving Sino-Canadian economic and trade exchanges and two-way investment. This seminar on RMB internationalization provided an important platform for enterprises to gain a deeper understanding of RMB financial services and expand cross-border business cooperation. In the future, ICBC Canada will continue to leverage its global operating advantages, continuously innovate financial products and services, and contribute to promoting RMB internationalization and deepening Sino-Canadian economic and trade cooperation.
The association's original mission: to transform resources into tangible benefits.
One of the association's core tasks has always been to truly stand from the perspective of its members, integrating resources, reducing costs, and improving efficiency. This in-depth collaboration with the Industrial and Commercial Bank of China (Canada) is a concrete manifestation of this philosophy.
In the future, the Canada-China Construction Association will continue to actively promote more similar cross-sector collaborations, transforming high-quality financial, legal, and policy resources into tangible benefits for its members, helping every hardworking entrepreneur to achieve greater stability and success.
We firmly believe that a good industry association is not only a platform for communication, but also the strongest support for its members.
In their speeches, guests and representatives from various sectors affirmed China's development achievements and opportunities, praised the Chinese Consulate General in Toronto for its positive efforts and contributions in strengthening exchanges and cooperation with China in various fields within its consular district and serving the Chinese community, and expressed their hope that exchanges and friendship between the people of the two countries would continue to be strengthened.
