- The Grand Duchy of Luxembourg
- China-Luxembourg relations
- Le Luxembourg, capitale européenne
Crown Prince and Deputy Prime Minister lead business delegation to China
A Luxembourg trade delegation visited China from May 1st to May 6th 2016. This delegation was headed by His Royal Highness the Crown Prince in presence of Her Royal Highness the Crown Princess and led by H.E. Mr. Étienne Schneider, Deputy Prime Minister and Minister of the Economy.
The trip is part of a commitment started several years ago in order to deepen Sino-Luxembourg cooperation and friendship. The mission aimed to position Luxembourg as a center of innovation. The Chinese Government encourages enterprises to invest more in R&D, and Luxembourg tries to tap this growing market. This is especially true for the automobile sector and the Luxembourg automotive component industry. China has become by far the largest market for the car industry, and ultimately constitutes an enormous potential. Furthermore, as part of the diversification strategy of the Luxembourg economy, the tourism sector tries to promote the Grand Duchy in China and Luxembourg hopes to welcome more visitors from the Middle Kingdom.
The mission started with a reception in Hong Kong gathering the Luxembourg business delegation and the Grand Ducal business community based there. In Hong Kong, a seminar was organized to promote Luxembourg as a tourist destination. Chinese customers constitute a vast potential, be it tourists who stay for overnight or those who stay only for a few hours, but nonetheless have a large purchasing power. Within the Pearl River Delta Area, the trade delegation also visited the China Import and Export Fair (Canton Fair) in Guangzhou.
The next stop of the trade mission was Shanghai in order to join H.R.H the Crown Prince and H.R.H. the Crown Princess. Further seminars took place in the fields of tourism promotion as well as trade promotion. Later on, a visit to the telecommunication equipment producer ZTE and their Research and Development Center were part of the program. ZTE showed interest in the potential of Luxembourg as a logistics platform in Europe.
The delegation celebrated the 10 year anniversary of the Consulate General of Luxembourg and the Luxembourg Trade and Investment Office in Shanghai. The event took place at the former Luxembourg Pavilion of the World Expo.
The day after the celebration, the main focus was on the automobile industry. The delegation visited the Shanghai International Automobile City. The signing of an MoU between Luxinnovation and Shanghai International Auto City deepens the cooperation between Luxembourg and China in the automotive components sector. A visit of MG’s R&D center, as well as an automotive component workshop took place that same day.
Luxembourg is also an important player in the business aviation and that sector has strong ties with China. The official delegation met with the Chairman of China Mingsheng Investment, which is an important shareholder of Luxaviation, a Luxembourg company which operates the second largest business jet fleet globally.
LTIO-Shanghai NEWS 6/2016
Later, T.R.H. and the Deputy Prime Minister visited the first plane operated by a joint venture between another big player from Luxembourg in that industry, Global Jet and its Chinese partner Jinggong Group. This is the first joint venture with a non-Chinese partner operating in China in the business aviation field.
The third and last destination of the economic mission was Beijing, where a further seminar to promote Luxembourg as a tourist destination and a trade promotion seminar focused on innovation were organized. Finally, on May 6th, the delegation celebrated together with IEE and its Chinese shareholders the 10 year anniversary of this Luxembourg automotive supplier’s presence in China.