ChinaLux News

ChinaLux News (174)

On 14 March 2017, the Indian Business Chamber of Luxembourg (IBCL) held an event to explore the draft Law (n°6992) introduced by the Luxembourg government in 2016 and adopted on 8 February 2017, pertaining to residence permits for third-country nationals. ChinaLux were delighted to have the opportunity to be a supporting Chamber of the event, alongside the Brazilian and Russian Chambers, and to welcome our Members to join the event.

 

The event commenced with a welcome and introduction by Louis Thomas, Partner KPMG, followed by a panel discussion on the attractiveness and practicalities of the adopted draft Law. The speakers and panellists provided numerous insights, and the IBCL will keep the event attendees up-to-date as new information becomes available and the Law is published by the Luxembourg government in the coming months.

 

Press: Luxemburger Wort, Paperjam, IBCL Photo Gallery

Presentation: IBCL Website

 

Photo: Copyright Paulo Lobo / IBCL

 

On 14 March 2017, together with the Luxembourg Private Equity & Venture Capital Association (LPEA), the representative body of private equity and venture capital professionals in Luxembourg, ChinaLux held a conference entitled "Luxembourg, a European gateway for China: update on Private Equity and M&A". The first conference to explore exclusively Luxembourg's role in inbound and outbound investments between China and Europe, the event brought together speakers from China and Luxembourg to share their insights on the growing importance of Luxembourg as bridge connecting China and Europe, looking specifically at the Private Equity and M&A sectors.

Jérôme Wittamer, LPEA President, and Dirk Dewitte, ChinaLux President, welcomed the full-house of attendees to the conference. Following, speeches were delivered by Cedric Carnoye, Managing Director Hong Kong desk Deloitte, and Lorenzo Stanca, Managing Partner Mandarin Capital Partners, on the topic of China investing abroad. Addressing the state of the market for Private Equity in China, Julien Kinic, Co-founder and Managing Partner IDI Emerging Markets, then explored the Private Equity industry in China, outlining the main sectors and players, as well as the challenges. The next speaker, Alain Kinsch, Country Managing Partner EY Luxembourg, Head of EY Chinese Overseas Investment network, presented his view on Luxembourg as a bridge between Europe and China, exploring the past 12 months of Private Equity and M&A acquisitions made by China into the EU. Next, Lin Fengyun, Executive Vice President, Global Banking Dep., ICBC Head Office Beijing, China, presented a testimony from a Chinese bank, and more specifically, explored the role of Chinese banks for Private Equity and M&A transactions.

The speeches were followed by a Roundtable. Dirk Dewitte acted as moderator, and was joined by a panel of leading experts in the Luxembourg-China Private Equity and M&A fields: Lorenzo Stanca, Managing Partner Mandarin Capital Partners, Dan Choon, Dyan S.à r.l., Katia Panichi, Partner EHP, and Julien Kinic, Co-founder and Managing Partner IDI Emerging Markets.The Roundtable discussions explored topics such as why Chinese companies use Luxembourg for structuring a transaction, the attractiveness of Luxembourg vehicles to structure Private Equity and M&A transactions, and the experiences of a PE/VC house investing in China, to the transfer of technology between Europe and China. The conference finished with a networking reception, offering the attendees an opportunity to further discuss questions and topics from the speeches and Roundtable discussion.

 

Press: Delano, LPEA Photo Gallery

 

Photo: Copyright LPEA

 

Source: Chamber of Commerce of the Grand Duchy of Luxembourg: On 7 March 2017, the Luxembourg Chamber of Commerce in partnership with the China-Luxembourg Chamber of Commerce (ChinaLux) and the Luxembourg Cluster for Logistics held a seminar entitled “Down the Road – Logistics and China’s One Belt One Road Initiative”. This seminar was the second in the event series on the OBOR initiative*, an intercontinental trade and infrastructure project focused on forging new economic corridors between China and Eurasia. Focused on the logistics sector, the event included a panel discussion to explore the potential opportunities for Luxembourg in that field. More than 120 participants attended the event.

In his opening speech, Jeannot Erpelding, Director of International Affairs at the Luxembourg Chamber of Commerce, introduced the subject and claimed that, in his opinion, Luxembourg is undoubtedly an early bird and active player on the OBOR initiative. Indeed, Luxembourg is not only the first European founding member of the Asian Infrastructure Investment Bank, but Cargolux and CFL Multimodal are also already connecting the continents and playing the important role of transporting goods between China and Europe.

François Bausch, Minister for Sustainable Development and Infrastructure, reminded the audience about the importance of the European market for China, since Europe remains its biggest export market. He stressed the economic ties between China and Luxembourg that have been developing steadily in the recent years, especially in the logistics sector, amongst others, thanks to the successful collaboration between HNCA and Cargolux established in 2013. Logistics is one of the key sectors for the Luxembourg government. Therefore, the government is continuously striving to improve its regulatory and administrative framework. For Minister Bausch, infrastructure projects are one of the most important activities of the OBOR initiative and in this context, he insisted that an intelligent coordination between the OBOR initiative and the Juncker Plan is needed. There is a fierce competition in Europe to attract Chinese freight trains, but the Minister is convinced that Luxembourg has a card to play, the ultimate challenge being to put Bettembourg on the map.

Then, Daniel Liebermann, Director of Logistics at the Ministry of the Economy, delivered a keynote speech where he explained in more detail what the OBOR initiative exactly means as far as the logistics sector is concerned. The initiative is in fact the centerpiece of China’s long term strategy to establish international cooperation between all countries on the route of the “new Silk Road”, Europe and China being the end of lines. Daniel Liebermann emphasised that China is no longer a new market, as Luxembourg is indeed celebrating 45 years of bilateral relations with China in 2017.

Malik Zeniti, Cluster Manager of the Luxembourg Cluster for Logistics moderated the panel discussion with 4 experts from the logistics sector in Luxembourg: Barbara Chevalier, Director Strategy & Business at CFL Multimodal, Christoffel Niel, Vice-President of Sales at Cargolux, Axel Quadt, Managing Director at Schenker Luxembourg and Ludger Evrart, Managing Director at Creactive Studio and China Digital Branding. After brief companies presentations, each panelist described the potential opportunities and threats linked to the development of the new Silk Road. There are 3 main types of long-distance transportation for goods: airways, waterways and railways. Each of them has advantages and disadvantages in terms of delivery time, price, and volume. Since one of the objectives in the framework of the OBOR initiative is to improve the railway infrastructure between China and Europe, it will certainly make the freight train option more competitive compared to the other alternatives, knowing that currently 88% of all the goods in the world trade are transported by sea. The questions for the panel ranged from the demand on the Luxembourg amd the Chinese markets and their future developments (e.g. expected growth of number of trains per year) to the obstacles and challenges the panellists are facing in terms of customers, infrastructures, etc. The panellists were also asked what kind of support they expect from the government. Barbara Chevalier sees it as an opportunity rather than a threat, since it means CFL multimodal will be able to welcome more trains from China provided that the infrastructures are improved. With regard to warehousing capacities in Luxembourg, many more containers from China can be accommodated, and via Bettembourg, CFL Multimodal can connect to most of the major European cities. Also, with the growing middle class in China, she hopes that exports from Europe to China will increase which might in turn benefit the activities of CFL multimodal. According to Christoffel Niel, the competition for Cargolux will of course increase, but competition is healthy for the business. The goods valuation and the delivery timeframe requested by the customers will be key in differenciating service providers. Even with improved infrastructures in railway, the airfreight will remain the fastest mode. As of today, 2800 trains circulate yearly between China and Europe and the objective of the OBOR initiative is to increase this number to 5000 trains. Yet, according to Axel Quadt, this will be a real challenge as infrastructure is currently not ready for more trains, especially at the border with Belarus and Poland. Moreover, in the coming years, Poland announced important works on its railway network, which will make it difficult to grow the train capacities simultaneously. Major investments will be required to further expand the railway network and meet the proposed increased capacity. Another major risk pertaining to the project pertains to the political stability in some countries that the New Silk Road is crossing.

After the panel, participants had the chance to ask a few questions that animated the debate and which kept going during the networking cocktail that concluded the event. Dirk Dewitte, President of ChinaLux, delivered a closing address, and welcomed the seminar participants to join the upcoming seminars in the OBOR event series on ICT and finance.

For Luxembourg Logistics key players interested in China, the next important event is already programmed with the trade mission to Zhengzhou and Hong Kong that will be organised in the second semester 2017.

 

*Full Event Series: Throughout the course of the One Belt One Road (OBOR) event series, ChinaLux and the Chamber of Commerce will endeavor to introduce and explore the opportunities for Luxembourg under the OBOR initiative, with events to follow the launch of the initiative, highlighting opportunities and experiences in the Luxembourg logistics, ICT and finance sectors. To hear about the upcoming events, please sign-up to the ChinaLux mailing list (http://china-lux.lu/enewsletter), and watch the ChinaLux and Chamber of Commerce events announcements for more details.

 

Photo: Copyright Chamber of Commerce

 

The Chamber of Commerce, in collaboration with the Luxembourg Trade and Investment Office - Shanghai, has the pleasure to invite you to join a Benelux ‘E-commerce trade mission’ to China, organized by global E-commerce leader Alibaba Group on 16-17 March at its headquarter in Hangzhou.

As said by its slogan, ‘Globe trade starts here’, Alibaba Group (https://www.alibaba.com/) provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. It also provides electronic payment services, a shopping search engine and data-centric cloud computing services. The group began in 1999 when Jack Ma founded the website Alibaba.com, a business-to-business portal to connect Chinese manufacturers with overseas buyers. Today, with the booming E-commerce in China, its web portals as Taobao, Tmall, as well as its online payment system as Alipay showcase the advantages of exporting to China through Alibaba while being based in Luxembourg.

The Chamber of Commerce of Luxembourg is pleased to inform you that Alibaba offers to the selected invitees a two days’ exclusive meeting program on 16-17 March, 2017 (see attachment), which is an exceptional opportunity to learn more about the e-commerce in China and discover the advantages of exporting to China through Alibaba. The participant companies will be invited to B2B-meetings with Alibaba’s sourcing team. Possible tailor-made programs will be provided for all participants willing to prolong the business experience in Shanghai.

If you are interested in participating to the Trade Mission, please contact Ms. Na Shi, International Affairs, Chamber of Commerce of the Grand Duchy of Luxembourg by Tel: (+352) 42 39 39 364 or by E-mail This email address is being protected from spambots. You need JavaScript enabled to view it. before 6th February 2017.

Thursday, 17 November 2016 00:00

BRIC Event 2016

Photo © Paulo Lobo

On 17 November, 2016, the BRIC Event 2016 was held by the Luxembourg-Russia Business Chamber (www.lrbc.lu), the Indian Business Chamber of Luxembourg (www.ibcl.lu), the Luxembourg Brazil Business Council (www.luxbrazil.lu) and ChinaLux.

 

Entitled “Banking with BRIC in Luxembourg”, the event this year began with words of welcome from the BRIC Chamber’s Presidents and organisers, followed by an opening speech by the Minister of Finance of Luxembourg Pierre Gramegna and a presentation on the New Development Bank, BRIC and Luxembourg by Dean and Professor of International Business Geoffrey Wood at Essex Business School. A panel discussion then addressed the topic of BRIC banks in Luxembourg, moderated by Marc Feider, Partner at Allen & Overy Luxembourg.

 

ChinaLux were delighted to have in attendance the H.E. Mr. Huang Changqing, Chinese Ambassador to Luxembourg.

 

After the formal proceedings, guests were treated to a networking walking dinner, with cuisine from the BRIC countries.

 

To view the full photo gallery, please click here (Indian Business Chamber of Luxembourg Website) 

On 10 November 2016, the China-Luxembourg Chamber of Commerce (ChinaLux) in partnership with the Chamber of Commerce Luxembourg held the launch of their event series on China’s One Belt One Road (OBOR) initiative. Entitled “Luxembourg is on its Way”, the launch featured speeches introducing OBOR, as well as a panel discussion to explore the potential opportunities for Luxembourg under the initiative.

 

Opening speeches were delivered by Mr. Carlo Thelen, Director General of the Chamber of Commerce, and the Honorable Huang Changqing, Chinese Ambassador to Luxembourg, followed by an introduction to the initiative by Professor Jean-Pierre Lehmann, IMD. In his talk, “OBOR: The New Silk Road to the 21st Century”, the Professor presented his “cautious optimistic” case for OBOR, outlining its historical context, development, risks and potential, as well as expressing his view that we should be seeking to engage with this inclusive initiative – a rarity in the current trade climate.

 

Together with the Professor, three experts from the Luxembourg logistics, ICT and finance sectors joined a panel discussion. The panelists – Mr. Daniel Liebermann, Director Logistics, Ministry of the Economy, Mr. Jean-Paul Hengen, Manager, Luxembourg ICT Cluster, Mr. Sascha Bremer, Market Intelligence Adviser, Luxembourg for Finance – presented their experiences in their sectors, as well as their views on the potential involvement of Luxembourg in the initiative. The panel discussion was moderated by Mr. Dirk Dewitte, ChinaLux President.

 

The questions for the panel ranged from whether, and how, the Luxembourg government should support efforts to engage with the initiative and the current level of awareness in Luxembourg of the initiative, to a frank debate on whether or not it is a “win-win” situation. A common thread throughout these discussions was that there are many links in place for Luxembourg to benefit, however, the expectations and the potential opportunities require further identification and assessment.

 

Throughout the panel discussion, the Professor’s “cautious optimistic” case was well appreciated by the panelists and attendees alike, as was his assertion that we should be seeking to engage in this inclusive initiative. In his words, let’s for once make a success of an initiative in the 21st century.

 

Furthermore, let’s ensure Luxembourg continues on its way by identifying the expectations and opportunities for Luxembourg under the initiative, in particular those relevant to the logistics, ICT and finance sectors.

 

Full Event Series: Throughout the course of the One Belt One Road (OBOR) event series, ChinaLux and the Chamber of Commerce will endeavor to introduce and explore the opportunities for Luxembourg under the OBOR initiative, with events to follow the launch highlighting opportunities and experiences in the Luxembourg logistics, ICT and finance sectors. To hear about the upcoming events, please sign-up to the ChinaLux mailing list (http://china-lux.lu/enewsletter), and watch the ChinaLux and Chamber of Commerce events announcements for more details.

Click here to view article in Lëtzebuerger Journal (11.11.2016)

Thursday, 15 September 2016 09:00

Moon Festival Members Cocktail

On September 15, 2016, ChinaLux held the inaugural Moon Festival Members Cocktail at the Royal Hotel.  This exclusive, members-only event offered an opportunity for ChinaLux members to meet and network, as well as to come together and celebrate the Chinese Moon Festival, also known as Mid-Autumn Festival.

Guests enjoyed “Moonlight” cocktails and moon cakes under festive, colourful lanterns, and words of welcome and well wishes for the festival were said by the Honorable Huang Changqing, Chinese Ambassador to Luxembourg, and Mr. Dirk Dewitte, ChinaLux President.

ChinaLux wishes to send their thanks to all members who attended the Members Cocktail. Special thanks must go to Chocolate House of Luxembourg for their beautiful and delicious donation of autumn-themed chocolates that brought a wonderful “touch of Luxembourg” alongside the moon cakes, and to Bofferding Beer for their very kind donation.

Due to the success of the event, we are delighted to be organising the Members Cocktail again in 2017.

The China-Luxembourg Chamber of Commerce (ChinaLux) are delighted to announce their President, Mr. Dirk Dewitte, will represent ChinaLux at the Luxembourg for Finance China Mission (25-28 October 2016), headed by His Royal Highness Crown Prince Guillaume of Luxembourg, and led by HE Pierre Gramegna, Minister of Finance of the Grand Duchy of Luxembourg. The mission will also be attended by several ChinaLux Executive Board members, including Vice Presidents Zhujun (King) XIE (BIL) and Amanda Yeung (EY), as well as a number of ChinaLux members.

 

If you wish to connect with ChinaLux during the mission, please do not hesitate to contact This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

On 5 July 2016, the Brasserie Schumann opened it’s doors in the early hours for our first Breakfast Seminar. We were delighted to see so many members and friends in attendance to hear from David Schlesinger, Founder of Hong Kong-based Tripod Advisors and Chairman of the International Advisory Board of VitalBriefing.

 

Having recently returned from the World Economic Forum Meetings in Tianjin, David presented a seminar entitled: “The view of China after the summer World Economic Forum meetings in Tianjian: What’s the future for economic growth, investment and change?”.

 

David began by outlining the historical background of China’s rapid economic “miracle” since the 1980s and the economic shifts of the past few years. Within this context, he noted the tone in Tianjin was surprisingly upbeat on previous years, highlighting the impact of Brexit on the perception of China on the world economic stage. He followed by outlining a “Case for Concern” for China, from a slowing economy and environmental degradation, to a lack of action on and commitment to reforms, as well as a “Case for Calm”, such as growing innovation, high savings rates and the “One Belt One Road” as a source of growth and opportunities. He also cautioned giving undue weight to China commentary, and to be weary of China bears. David's view is of a more balanced nature - that China is much more likely to muddle through its difficulties than to experience a collapse.

 

The floor was then opened for questions, moderated by David Schrieberg, Pulitzer prize winning CEO and co-founder of VitalBriefing.

Wednesday, 30 March 2016 00:00

Private Visit to Bofferding Brewery

Thank you to all members and friends who attended the CHINALUX Private Visit to Bofferding Brewery on 30 March 2016. Guests were invited to the Brewery at Bascharage for an introduction to how Bofferding has expanded their business into the Chinese market. The event commenced with welcome speeches from CHINALUX Vice President  Zhujun XIE and Brasserie Nationale (Bofferding) Luxembourg CEO Mr Georges M. Lents. Following, guests were treated to a tour of the brewery and a beer tasting cocktail.