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Langley City Invests In Bank Of China
Submitted – The City of Langley invested in a term deposit with the Bank of China (Canada) recently, making it the first Canadian municipal government to deposit funds with the financial institution.
According to Darrin Leite, City of Langley Director of Corporate Services, “The Bank of China (Canada) is incorporated in Canada as a Schedule II bank and a member of the Canada Deposit Insurance Corporation (“CDIC”).”
“This investment demonstrates a significant step to open the lines of communication in our community, increasing exposure and encouraging business investment opportunities for the City of Langley through the Bank of China (Canada) business partners,” said City of Langley Mayor Ted Schaffer, “We hope that this initiative will encourage positive relationships and future business partnerships between local entrepreneurs and foreign investors, not only for our city but for the region as a whole.”
In 2015, local Elected Officials attended a Union of British Columbia Municipalities Convention (UBCM) reception hosted by Madame H.E. LIU Fei, Consul General of the People’s Republic of China in Vancouver. Following the UBCM conference, Mayor Schaffer invited the Consul General and representatives from the Bank of China to meet local entrepreneurs in the City of Langley, which has resulted in a very positive relationship between the City of Langley and the Bank of China (Canada).
“There are seven Regional City Centres (RCCs) in the Metro Vancouver area and the City of Langley is a part of one. We continue to be aggressively at the forefront of development opportunities, relationship building and creating an attractive business and investment culture in the support of our vision. That is why the City of Langley is recognized as a leader in economic development with three consecutive Province of British Columbia’s Small Business Roundtable ‘Open For Business’ awards for its on-going efforts to establish the City as one of the most business-friendly communities in B.C. We are thinking and working for beyond tomorrow in making the City of Langley – ‘the Place to Be!’ ”, stated Mayor Schaffer
“We are pleased to partner with the City of Langley and look forward to enhancing the relationship through mutually beneficial cooperation, said Bank of China (Canada) President and CEO, Aihua Li “We wish the City of Langley prosperity and every success!”
The Bank of China (Canada) has been operating in Canada for more than 20 years with its parent company serving users all over the world for over 100 years. To date, the Bank of China has over 300,000 employees, 650 branches and offices outside of China with footprints in 42 countries. The Bank of China (Canada) continues to work actively with local companies and China-based companies to make a contribution to local communities.