The Luxembourg Stock Exchange (LuxSE) today received a delegation from China Development Bank (CDB), the largest development bank in the world, for an exchange of views on the international debt capital market.
The delegation was led by Zheng Zhijie, CDB Governor, and was welcomed by Hubert Grignon Dumoulin, Member of the LuxSE Management Board.
CDB provides medium- to long-term financing facilities in order to assist the development of China’s economy. It is the second largest bond issuer in China after the state and its issues represent some 20% of the total custody amount in the Chinese Interbank bond market. LuxSE in turn has 40,000 listed securities, including around 27,000 bonds from 3,000 issuers in 110 countries. The relationship between LuxSE and CDB goes back to 1999, when CDB first listed a global $500 million bond on the Luxembourg Stock Exchange.
The two parties used the opportunity to also exchange views on the internationalisation of the renminbi, an area in which LuxSE is very active. It hosts more than 60 RMB bonds for a total issue amount of RMB 35bn representing a market share outside of Asia for the listing of these products above 50%. RMB issues are listed on the two markets (Bourse de Luxembourg and Euro MTF) of LuxSE.
Photo by LuxSE (L-R: Hubert Grignon Dumoulin, Member of the LuxSE Management Board ; Zheng Zhijie, CDB Governor)
