China visit reinforces Luxembourg as Europe's RMB hub

Published on 10th July 2014

UPDATE FROM FINANCIAL MISSION TO THE FAR EAST Minister of Finance’s China visit reinforces Luxembourg as Europe’s RMB hub

Luxembourg Central Bank and PBOC announce RMB clearing bank; AMAC and ALFI sign MoU and China Merchants Bank announces its new European HQ

Minister of Finance Mr. Pierre Gramegna is leading a delegation of 70 top executives from the financial and related sectors to China. Reinforcing strengthened ties between the two countries, on the first day of his visit to Beijing, Minister Gramegna welcomed the signing of a Memorandum of Understanding between Luxembourg’s Central Bank and the People’s Bank of China, setting the framework for a future designation of a Renminbi clearing bank in Luxembourg… click here for the full press release

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