Mr. Bingkai ZHENG (Agricultural Bank of China) : Chinese companies are using Luxembourg as the platform to expand in Europe
Bingkai ZHENG, general manager of the Agricultural Bank of China, describes the relationship between Chinese companies and Luxembourg regarding business expansion and corporate action.
Can you describe your banks activities in Luxembourg in a few words?
ABC Luxembourg is mainly engaged in corporate banking business, such as syndication loans, bilateral loans, trade finance and some treasury activities. So far, ABC has well-established business relationships with a number of Fortune 500 multi-nationals, including ADM, Bungle, Cargill and Louis Dreyfus.
“ABC Luxembourg plays a more and more important role in serving Chinese companies.”
Could you name a transaction that you recently did which illustrates how Luxembourg is now integrated in your global strategy?
We were involved in an M&A deal where a Chinese company bought a European logistic company. We find more and more Chinese companies are using Luxembourg as the platform to expand in Europe, that is in line with Chinese banks’ strategy to make ABC Luxembourg play a more and more important role in serving Chinese companies.
What is your advice for Chinese people who just arrived Luxembourg?
Be open, enjoy the multicultural atmosphere and comfort the country provides.
What do you advise people going to China to do first?
First of all, you need to take the opportunity to network with business leaders, government agencies and research institutions to grasp the impulse of the developing China. Secondly, to get a feeling of what it means to Chinese people’s to “go aboard”. Thirdly, to dialogue with entrepreneurs to learn about the structural reforms of Chinese economy.