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CONNECTING CHINA AND EUROPE
China Merchants Bank (CMB), China Everbright Bank (CEB) have chosen Luxembourg as their principal European domicile. Bank of Singapore has also opened a wealth management subsidiary in Luxembourg
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INVESTMENT FUNDS
Luxembourg is the global hub for cross-border investments and a gateway for Chinese investment flows
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RMB DENOMINATED BONDS
As a result of the internationalisation of RMB, the Dim Sum Bond market has grown since its inception and the Luxembourg Stock Exchange (LuxSE) is a one of the leading exchanges for the listing and trading of these instruments
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CLEARING AND SETTLEMENT
Since 2013, the PBoC began to designate overseas subsidiaries of Chinese banks to act as offshore RMB clearing banks. In Luxembourg, ICBC Luxembourg Branch functions as the official RMB clearing bank.
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PAYMENTS
Alipay, originally a payment channel for the Alibaba e-commerce platform, and WeChat pay, growing out of a popular Chinese social messaging service, have emerged as giant providers of e-wallets in China.
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