The China Chamber of Commerce in the European Union (EU) has established a new financial working group, marking a significant step towards enhancing financial cooperation between China and the EU. The establishment of this working group was formally announced on Friday, February 23, during the “Cross-border RMB and China-EU Economic and Trade Cooperation Forum.”
The unveiling ceremony of the Financial Working Group took place in Luxembourg, marking the Chamber of Commerce’s third working group following the Digital Working Group and Green Working Group. This working group, the first to be set up outside of the Chamber’s Brussels headquarters, aims to strengthen financial ties between China and the EU.
Hua Ning, Chinese Ambassador to Luxembourg, expressed the importance of financial cooperation between China and Luxembourg, highlighting the potential for investment and trade cooperation. Peng Gang, Minister and Head of the Economic and Commercial Office of the Chinese Mission to the EU, emphasized the need for Chinese financial companies in Europe to expand their services to support Chinese enterprises operating in the region.
Following the unveiling ceremony, the China Chamber of Commerce in the EU hosted the “Cross-border RMB and China-EU Economic and Trade Cooperation Forum” in collaboration with the China-Europe Business Alliance and the Belgium-Luxembourg Chinese Enterprises Association. Xu Chen, President of the China Chamber of Commerce in the EU and Chairman of Bank of China (Europe) Limited, discussed the opportunities brought by the use of RMB in cross-border transactions and the importance of cooperation in areas such as green investment and financial innovation.
The China Chamber of Commerce in the EU, initiated by Bank of China (Europe) Co., Ltd., China Three Gorges (Europe) Co., Ltd., and COSCO Shipping (Europe) Co., Ltd., was established in Brussels on August 31, 2018. With nearly 80 membership units representing nearly 1,000 Chinese-funded enterprises in Europe, the Chamber aims to foster closer economic and trade relations between China and the EU.
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