On 27 June 2017, a delegation of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, met with nine high representatives of the China Banking Regulatory Commission (CBRC) in Beijing.
From Luxembourg, Claude Marx, Claude Simon, Frank Bisdorff and Nico Gaspard represented the CSSF; the Chinese delegation was led by Mr Wang Xhaoxing, Vice Chairman of the CBRC.
Several topics were discussed during this First CBRC-CSSF Supervisory Banking Dialogue, including recent macro-economic developments in Luxembourg and in China, and an update on Chinese banks in Luxembourg.
Both authorities have agreed to meet on a regular basis, given the importance of the relationship between the two countries in the financial sector. At present, six Chinese banks are established in Luxembourg, and further banks have applied for a licence or shown interest in a presence.