The Province of British Columbia, the first foreign government to issue bonds into the Chinese Renminbi (CNH) market, has received two international awards for opening doors to new investors and raising British Columbia's profile in the Asia Pacific region.

The Province's CNH issue received a positive response from investors around the globe. In December, B.C. was presented the FinanceAsia achievement award for Best Offshore Renminbi Offering. The Province will be the recipient of the Global Landmark Deal Award at the 11th mtn-i Global and European Awards being held next week in London, England.

Issued in 2013, at 2.25 per cent and raising $2.5 billion RMB, or about $428 million Canadian, the one-year-term bond is the largest CNH bond by a AAA-rated foreign issuer to date. The RMB-denominated bonds diversify the government's investor base, access new sources of global liquidity, and increase B.C.'s financial and economic ties with China and the Asia Pacific.

Mtn-i is a leading industry publication that covers the structured note and medium-term note market across the UK, Europe, the Americas and Asia. FinanceAsia is a leading source of finance, investment banking, economic and capital markets news for those involved in corporate finance, banking, asset management and market regulation.

In addition, it is a statement of confidence by British Columbia in the importance and global emergence of China's Renminbi, and reflects the Province's desire to promote stronger relations between China, B.C. and Canada. This helped set the tone for the Jobs and Trade Mission2013.

Premier Christy Clark and International Trade Minister Teresa Wat visited China and met with key government representatives, investment executives and business executives to advance liquefied natural gas development opportunities and promote British Columbia as a stable and attractive destination for trade and investment, including the establishment of Asian corporations' North American headquarters in B.C.

Quotes:

Minister of International Trade Teresa Wat -

"Our expanded international trade and investment network allows us to promote British Columbian exports and attract investment in our priority markets in Asia."

"Our success in the Renminbi market is an important signal that British Columbia continues to promote financial, economic, trade and tourism ties between China and British Columbia."

Minister of Finance Michael de Jong -

"China is one of British Columbia's fastest-growing trade partners and our entry into the Renminbi market recognizes the importance of this relationship. Since 2001 we have significantly diversified B.C.'s export markets with over 40 per cent of B.C. exports now going to Asia."

"We believe the Renminbi market is poised to become one of the most important capital markets in the world, supporting stronger commercial ties between countries and positive economic growth."

"Our bond issue was quickly over-subscribed and that is a testament to B.C.'s growing reputation as a safe-haven for investment."

Quick Facts:

• China is now the world's second-largest economy.

• As part of the BC Jobs Plan, the B.C. government continues to build relationships, trade and investment ties with China and the Asia Pacific to help the province's businesses take advantage of our proximity to Asia, multicultural population, and low overall taxes.

• B.C. maintains Trade and Investment Representative Offices in Shanghai, Guangzhou, Beijing and Hong Kong.

• This effort is paying off - since 2001, the province's exports of goods to China have increased 691 per cent ($5.75 billion in 2012 from $727 million in 2001). China now is the province's second-most important destination for exports.

• On Oct. 28, 2013, B.C. announced the appointment of a new investment and trade commissioner to promote and advance British Columbia's trade and economic interests and strengthen the province's government-to-government relationships in Asia.

Learn More:

Check out what the world sees about B.C. on http://www.BritishColumbia.ca - the Province's international-facing website, its Twitter feed at https://twitter.com/BCTradeInvest and on LinkedIn: http://www.linkedin.com/company/trade-&-invest-british-columbia

To learn more about the British Columbia Special Representative in Asia, visit: http://www.britishcolumbia.ca/Global/Investment-and-Trade-Commissioner.aspx#.UpOtMByvN8E

For a recap of the FinanceAsia achievement awards, visit: http://www.financeasia.com/Category/78,awards.aspx

For more information on the 11th mtn-i Global and European Awards, see:http://www.mtn-i-3.co.uk/mtn-i_marketing/awards/2013_awards_global_europe.htm

Media Contact:

Media Relations
Ministry of International Trade
778 977-0298