From l. to r.: Zhu Linan (Legend Holdings), Yin Yong (vice mayor of Beijing), Pierre Gramegna, Marcel Leyers (BIL). Handout photo
Banque Internationale à Luxembourg opened a representative office in Beijing, China, on Tuesday, becoming the first Luxembourg bank ever to do so.
Finance minister Pierre Gramegna (DP), who is currently leading the Luxembourg for Finance delegation visit to China, said in a press statement that the opening “will further help to cement Luxembourg’s bridging role” for China-Europe cross-border investment, adding that he believed the bank “will be able to bring Chinese firms and investment to Europe and support European businesses and investors in China”.
Zhu Linan, who is president of BIL shareholder Legend Holdings, said the two economies “have strong complementarity to each other, especially when the current macroeconomic and political environment allows…further cooperation and win-win opportunities for both sides”.
The LFF visit, which takes place on 17-19 September and focuses on building the financial silk road, will continue on to Shanghai after Beijing.
Updated 18 September 2019, 9:15am, to correct the spelling of Zhu Linan’s name