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Premier supports offshore RMB market in Luxembourg

Updated: Oct 12,2014 1:37 AM     Xinhua

Premier Li Keqiang, right, talks with Prime Minister of Luxembourg Xavier Bettel in Hamburg, Germany, Oct 11, 2014. [Photo/Xinhua]

HAMBURG -- Premier Li Keqiang said Oct 11 that China supports the establishment of an offshore RMB market in Luxembourg, and the use of national currencies in the two-way trade and investment.

Li made the remark in talks with Prime Minister of Luxembourg Xavier Bettel before he attended the sixth “China Meets Europe” Hamburg summit.

China values the status and role of Luxembourg as an international financial center, Li said, adding China hopes to see more financial institutions and manufacturing companies of Luxembourg invest in China.

He also hoped that Luxembourg would provide more convenience for Chinese firms that invest and operate in its territory.

The Chinese premier said the bilateral relationship, featuring high-level political mutual trust, close economic ties and solid financial cooperation, has become a role model for the ties between small and big nations.

China is ready to work with Luxembourg to expand their exchange and communication and deepen bilateral pragmatic collaboration, so as to build a more robust bilateral relationship, Li added.

Bettel agreed that Luxembourg’s relationship with China, based on mutual respect and benefit, is full of vigor.

The European country, he said, as a gateway for Chinese companies and financial institutions to the eurozone and Europe at large, is willing to strengthen cooperation with China in financial and other areas.

Bettel welcomed more Chinese enterprises and banks to operate in Luxembourg and promised to provide convenience for them.

Luxembourg hopes to play a facilitating role in promoting China-Europe relations, he added.

Premier Li Keqiang, second from right, talks with Prime Minister of Luxembourg Xavier Bettel, left, in Hamburg, Germany, Oct 11, 2014. [Photo/Xinhua]

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