Luxembourg has gone crazy – good crazy – over China.
Last month’s announcement that China had awarded a 50 billion renminbi Qualified Foreign Institutional Investor quota to the grand duchy was just the latest sign of the country’s success in carving a key role in China’s strategy to take its currency global and integrate its financial industry with the outside world.
Translation? Managers of Luxembourg funds will soon have a direct route to invest in securities in China’s domestic markets.
The cherry on the cake came a week later when China’s Bank of Communications inaugurated its Luxembourg headquarters – making it Chinese bank #6 in the grand duchy.
There’s still more: Luxembourg has become the first non-Asian country to be accepted as a founder member of the Asian Infrastructure Investment Bank, a project piloted by Beijing and a key element in the drive to internationalise the renminbi. It also recognizes the grand duchy’s potential in infrastructure financing.
Bottom line: Despite intense competition from rival European centres to attract Chinese financial business, Luxembourg’s expertise in European and global financial markets is clearly critical for Chinese leaders as they push the country into the global financial mainstream.
All well and good – and making it still more crucial for businesses on the prowl to exploit the opportunities increasingly on offer — and to avoid the pitfalls in newly-opening China finance and markets.
And that’s why VitalBriefing and the Luxembourg Association of Family Offices are hosting a breakfast panel on 2nd June to explore the evolution of China’s economic and financial strategy, the politics underneath directly affecting those opportunities — and especially how to know who to trust.
Over coffee and croissants, leading experts will discuss key trends and developments invaluable for would-be financial sector players in China.
Moderated by David Schrieberg, VitalBriefing’s CEO and prizewinning journalist, the panel will include David Schlesinger, Thomson Reuters’s former chairman in China and global editor in chief, based in Hong Kong and one of the West’s most distinguished observers of China, Serge Krancenblum, Group CEO of SGG, a leading fund and corporate administration provider, and the chairman of the Luxembourg Association of Family Offices, and Christian Hertz, Managing Associate in the Investment Management Group at Linklaters in Luxembourg
The event is free, but places are limited. Ensure your seat by registering here.