Happy New Year of the Dog
On the occasion of Chinese New Year, we would like to wish our Chinese friends in Luxembourg and around the globe a joyous new year.
Honest and loyal, dogs are the truest friends and most reliable partner. Also, the barking sound is often associated with the Chinese character "wang," which means prosperity. The year of the dog is therefore a welcome moment to celebrate the longstanding friendship between Luxembourg and China.
Indeed, Luxembourg acts as a bridge between East and West and has developed into one of the world’s leading renminbi centres. Seven Chinese banks have chosen to set up their continental European hub in Luxembourg. In addition to corporate banking services, these banks have expanded into capital market activities in Europe and asset and wealth management.
The Luxembourg Stock Exchange continues to be the leading choice for companies planning to list RMB bonds in Europe and has expanded this role in the area of green finance through its pioneering Green Exchange platform. It is partnering with numerous Chinese institutions to set up new indexes.
Last but certainly not least, Luxembourg’s established position as a global cross-border fund hub and 2nd largest global domicile of investment funds investing into Mainland China behind Hong Kong, reinforces the Grand-Duchy as an important offshore RMB financial centre. All the major fund promoters use today their Luxembourg platform in order to invest into the Chinese capital markets.
These activities show that the year of the rooster has allowed to consolidate the close cooperation between Luxembourg and China in the area of financial services. In the year of the dog, Luxembourg is committed to act as a bridge between Europe and China, connecting businesses and clients in both regions.
We look forward to working with all our partners and to contribute to their success.