12 September 2012

China Construction Bank (CCB) to open in Luxembourg

12 September 2012 - Luxembourg’s Prime Minister Jean-Claude Juncker, and the Minister of Finance, Luc Frieden, today received the President of the China Construction Bank (CCB), one of the largest Chinese banks.

During their talks, President CCB announced the upcoming opening of a subsidiary and a branch of the CCB in Luxembourg. He explained the reasons for this choice - which was endorsed by the Board of Directors of the Bank in late August and is currently with the Chinese regulator - highlighting the country's stable economic environment and high quality of the regulatory and financial services to the financial sector. He stressed the importance that is attached to the CCB international operation and expressed his gratitude for the constructive dialogue with the official authorities in Luxembourg. 

Luc Frieden welcomed the decision of the bank and reaffirmed the government's commitment to maintain a stable and welcoming approach to foreign investors in Luxembourg. This announcement follows the Minister's visit to China in October 2011 when the first contact with the CWB was made. 

Source: Government of Luxembourg / Ministry of Finance