Spotlight: One year on, Toronto RMB hub gains solid foothold, yet far to go

``A year ago, ICBC Canada was designated as the clearing bank for RMB, or Chinese yuan. A year on, ICBC Canada has inked RMB cooperation deals with institutions including Canada's five big banks, Toronto Stock Exchange and Export Development Canada. Clearing accounts have made ready for 13 participant banks from eight countries and regions, and the cumulative settlement amount has reached 32.7 billion RMB (5.0 billion U.S. dollars), according to William Zhu, president and CEO of ICBC Canada.''