Special Asia Magazine - June/July 2014
Who could better judge the relationship between China and Luxembourg than the Ambassadors that are posted to these countries? HE Zeng Xianqi, Chinese Ambassador to Luxembourg since 2010 and HE Paul Steinmetz, Luxembourg Ambassador to China since 2013, give an insight into their thoughts about more than 40 years of bilateral relations between the Middle Kingdom and the Grand Duchy.
One of the key drivers behind the growth of renminbi transactions in Luxembourg is the growing number of funds that invest in RMB opportunities. These can be UCITS funds, which are recognised by institutional investors globally.
In October, 2013, China Construction Bank (CCB), the world's fifth largest bank by capitalisation, opened its European Headquarters in Luxembourg. LFF interviewed the head of CCB, Mr Li to ask him for his insight into this important milestone in the internationalisation of CCB’s network.
The internationalisation of the renminbi has received much attention as the Chinese currency makes its journey through being used as a trade currency to settle international transactions in goods and services, to being a widely used currency for investment products, and ultimately as one of the reserve currencies of the world.
LFF spoke with seven prominent lawyers about their views on the legal environment and business opportunities between Luxembourg and China.
IEE is a Luxembourg-based global leader in automotive safety sensing systems for vehicles produced by the world’s major car manufacturers. Mr Michel Witte is the company’s CEO, and founded IEE in 1989.