Luxembourg Stock Exchange teams up with China Construction Bank
The Luxembourg Stock Exchange has signed a Memorandum of Understanding with China Construction Bank, one of the world’s biggest banks. The official signing ceremony took place at the Luxembourg Stock Exchange on Friday 31 May, in the presence of H.E. Mr Huang Changqing, the Chinese Ambassador to Luxembourg.
“This agreement represents an important and strategic milestone for the Luxembourg Stock Exchange. Given China Construction Bank’s size, position and reputation, this collaboration is an essential step in our ambition to link markets and investors, in China and abroad, and thereby play an active part in the internationalisation of Renminbi,” stated Robert Scharfe, CEO of the Luxembourg Stock Exchange.
Focus on Renminbi and innovation
The purpose of the Memorandum of Understanding is to establish a mutually beneficial framework of cooperation and partnership between China Construction Bank and the Luxembourg Stock Exchange.
The partnership will facilitate cooperation between the two institutions when it comes to financial market activities in the context of the internationalisation of Renminbi. More concretely, China Construction Bank and the Luxembourg Stock Exchange will share insights into listing and trading activities and products, with a specific focus on Renminbi-denominated securities. The two parties will cooperate in the listing of bonds, derivatives and investment funds and work together to boost innovation within the field of trading products.