Wei ZHANG (China Everbright Bank) : Global corporate banking
Mr. Wei ZHANG, general manager, presents China Everbright Bank’s global strategy and the role Luxembourg plays as a financial gateway to Europe for Chinese banks.
Can you describe your bank’s activities in Luxembourg in a few words?
CEB has two entities in Luxembourg, one is the Luxembourg Branch and the other is CEB Europe, which is the subsidiary of CEB Bank and also the European Head Office. CEB Luxembourg is aiming at providing corporate banking services to Chinese companies developing business in Europe, as well as well-known European and global companies doing business with China. To be specific, we provide products such as trade refinancing, forfaiting, bilateral loans, syndication, bonds investment, FX swap and other derivatives, certificate of deposits, etc. And speaking of our Bank, CEB Europe and CEB Luxembourg Branch had the opening ceremony on 8th Sept. last year. Our bank just recently celebrated the First Year Anniversary. During this one year, we structured corporate governance, reviewed and streamlined the internal business procedures and strictly aligned with all relevant rules and regulations. We have experienced stable and healthy business development. During our first operating year in Luxembourg, we received vigorous support and help from Ministry of Finance, CSSF, BCL, LFF, Chamber of Commerce and many other parties. We also had a lot of communications and collaborations with many local banks and made friends with them.
"China Everbright Bank is more than happy to welcome you to Luxembourg "
Could you name a transaction that you recently did which illustrates how Luxembourg in now integrated in your global strategy?
One of our global strategies is acting as the gateway to provide cross-border financial services for both Chinese and European corporates. And of course, also for our Chinese counterparties. For example, we are currently doing forfaiting business with banks in mainland of China, including our CEB domestic branches. This is also how we could make our own contribution to the promotion of RMB internationalization. In addition, we participated in a syndicated loan to refinance a global acquisition of a Hong Kong company. To actively get ourselves involved in global M&As is also one of the global business strategies.
What is your advice for Chinese people who have just arrived in Luxembourg?
I believe most Chinese people would like Luxembourg because it is a “green” country – a lot of green areas, like parks, forests and mountains. Living here is quite enjoyable and relaxing. On the other hand, it is also a good place to develop business as Luxembourg is one of the biggest financial centers in the world. So, you can find all kinds of financial services here to help you with your companies and of course, it is always easier for Chinese people to come to Chinese banks, for instance, CEB.
What do you advise people going to China to do first?
Well, there is a lot about which to be advised. For example, to learn some basic Chinese culture and some basic Chinese words. I would like to tell my friends that please let me know if you are going to China, I could offer you the help you need!