The Canadian Embassy in China advises that the Student GIC Program provides a streamlined study permit application process for students planning to study in Canada.
Qualifying students can choose to submit a $10,000 CAD Guaranteed Investment Certificate （GIC）in support of their study permit application. The program has the following advantages:
I：Significantly reduce the financial burden when compared with conventional Study Permit application
Prior to the launch of Student GIC Program, applicants are required to provide financial documents showing RMB600,000 deposits over 12 months in support of their study permit applications. In contrast, Student GIC Program allows student to submit a $10,000CAD GIC instead as their financial document.
II：In favor of students that have passed language test.
It seems that Canada government tends to recruit students who spend less time on studying English after landing in Canada. As such, qualifying students who have passed language test may choose Student GIC as their proof of financial support.