The Luxembourg Stock Exchange (LuxSE) has signed a Memorandum of Understanding with China International Capital Cooperation (CICC), China’s first joint-venture investment bank.
The official signing ceremony took place in Beijing on 16 September 2019, in the presence of H.E. Mr. Pierre Gramegna, Luxembourg Minister of Finance and a business delegation from the Luxembourg financial centre, as well as the two institutions’ senior leadership teams.
“This agreement speaks of our commitment to connecting our capital markets, and facilitating cross-border investments. With its unique blend of Chinese roots and international reach, CICC is perfectly positioned to encourage interaction and understanding between China and international markets,” stated Robert Scharfe, CEO of the Luxembourg Stock Exchange.
This Memorandum of Understanding is the first official agreement between the two institutions. It will facilitate cooperation in a broad range of financial market activities, with a specific focus on Renminbi-denominated securities. The overarching objective of the cooperation is to connect Chinese issuers to the international investor community and facilitate cross-border investments.
“We believe the collaboration between CICC and LuxSE will facilitate financial innovation, the development of green finance and especially the interaction between the capital markets in China and Luxembourg,” said Mr. Bi Mingjan, Director and CEO of China International Capital Cooperation.