ChinaLux News

ChinaLux News (174)

Friday, 05 September 2014 13:43

CHINALUX on Air TV - Bienvenue chez vous

Our Vice-President Ms Zhu Jun Xie, presented our Chamber yesterday at Luxembourg Air TV's "Bienvenue chez vous". You can replay the show at the link below (as of Min. 17:11)

Ahead of China's cross-border recognition schemes, distribution in the Mainland remains a challenge. In this article by specialised magazine Asian Investor (paywall upon 48 hours after initial publication), Christian Edelmann, head of Asia Pacific at consultancy Oliver Wyman, explores the potential of white labelling as an alternative. 

Paperjam offers today a comprehensive view of the status of China-Luxembourg relations from the point of view of the Financial Services sector (article in French). And such status could not be more optimistic: Bank of Communications is to establish in Luxembourg and participation of the Grand Duchy in a local investment structure are signs of a very healthy link between the two nations. There is a lot of work behind this success as proven by this article, and an example of which is Monday's meeting between Minister Gramegna and Deputy Minister Jin Liqun as reported here by Chronicle

CHINALUX Founder Member KPMG has recently issued two reports on the latest matters to look out from a tax perspective in China: Equity Transfer and China outbound cross-boder investment.

See links to attached PDF reports below.

Contrary to its counterparts, Luxembourg exchanges yuan flows mainly with countries outside Greater China, a trend that is likely to increase in the future. The announcement of a clearing bank in Luxembourg in July boosted this development.


Chinese e-business companies eying at Luxembourg

With more and more Chinese banks and Chinese e-payment providers showing growing interest in doing business in Europe, the Luxembourg Trade and Investment Office in Shanghai together with major Luxembourg-based companies – POST Luxembourg, EBRC, PwC and Dewolf & Partners – organised two workshops in Shanghai and Hangzhou on 4 and 5 August to present Luxembourg as an ICT platform for Chinese companies in Europe.

From Left to right: Lys Pan, Luxembourg Trade and Investment Office; Alex Duwaerts, EBRC; Torsten Woywod, EBRC; Micael Weber, POST;  Dixon Guo, PwC;  Alexandra Bru, PwC;  Luc Decker, Consul general of Luxembourg in Shanghai, Shaohui Zhang, Dewolf & Partners.

Read the article on >


Luxembourg is featured yesterday in this very complete summary made by the Wall Street Journal, of the country's aspirations to become Europe's RMB hub. In addition to some descriptive anecdotes, it is worth noting the words from Mr. Li of China Construction Bank on the goals of CCB while in Luxembourg, as well as a reminder of how Luxembourg compete's best with its rivals in this race. 

This is according to a very recent study published by Renmin University in collaboration with Bank of Communications and published today by People's Daily. A goos summary of where we are at the moment and were Luxembourg is mentioned alongside other major financial centers.