The Luxembourg economic mission in China continued on Wednesday 4 May 2016 with a seminar in Shanghai.

Organised by the Luxembourg Chamber of Commerce in collaboration with the Consulate General of Luxembourg in Shanghai, an economic seminar entitled "Luxembourg: Your Prime Business Hub in Europe" was held as a means of presenting the economic and financial environment of the Grand Duchy to the Chinese business community. During the event, a cooperation agreement was signed between the China Council for the Promotion of International Trade Shanghai and the Luxembourg Chamber of Commerce.

"Luxembourg is China's trusted partner for cross-border investment in Europe," announced Luxembourg Deputy Prime Minister, Minister of the Economy, Étienne Schneider, who is leading the mission alongside HRH the Hereditary Grand Duke and Hereditary Grand Duchess. "About 42% of foreign direct investment from China to Europe passes through the Luxembourg financial centre. China is the first trading partner of Luxembourg in Asia and second outside Europe after the United States. In recent years, we have seen sustained growth in our bilateral goods trade with China. Trade in services between China and Luxembourg has seen an even more impressive evolution: in the last three years, trade volume has more than doubled."

Later that afternoon, Their Royal Highnesses and the Deputy PM visited the R&D centre of telecommunications equipment company ZTE, followed by a meeting with representatives of the group active in the production of telecomms equipment. The talks focused on the economic development potential of ZTE in Luxembourg, particularly in the logistics sector.

The official day in Shanghai ended with a reception to celebrate the 10th anniversary of the Consulate General and the Luxembourg Trade and Investment Office (LTIO) in Shanghai, which were both opened during the state visit to China in 2006. The ceremony took place in the former Grand Ducal pavilion at the Shanghai World Expo in the presence of the official and trade delegations, the Luxembourg community in Shanghai, and local representives.

Photos by SIP/Luc Deflorenne