6.1%

forcast annual inflation rate for 2022

+9 points

for business Confidence in Luxembourg

1.6%

for financial services prices at the end of March 2022

8th rank
in the European Digital Economy and Society Index (DESI) for Luxembourg

All the news that’s fit to browse - April 2022

Yang Xiaorong (Ambassador of China): Exemplary collaboration between countries of such different sizes 

Yang Xiaorong, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Grand Duchy of Luxembourg, told us about the objectives of her mandate, and the opportunities of Sino-Luxembourg and Sino-European relations. 

What objectives have you set for your mission to Luxembourg? 

As Chinese ambassador to Luxembourg, I have the mission to promote friendship and cooperation between China and Luxembourg. Our two countries established diplomatic relations in 1972. Since then, adhering to principles of respect, equality and the pursuit of mutual benefit, our nations have maintained high-level exchanges and cooperation in the political, economic, commercial, cultural and educational fields. Together we have set an example of mutually beneficial cooperation between two countries of different sizes. Luxembourg is the 3rd largest destination for Chinese investment in Europe, and China holds the position of Luxembourg’s 2nd economic partner outside the EU. In the fight against the COVID-19 pandemic, our two peoples have helped each other, and the “Air Silk Road” linking Zhengzhou in China and Luxembourg has ensured the supply of a large quantity of medical equipment. The Sino-Luxembourg friendship has thus been further deepened. China considers Luxembourg an important partner for cooperation in the EU, and is committed to working together with Luxembourg to take this warm cooperation to a new level.

By adhering to respect, equality and the pursuit of mutual benefits, our nations have maintained high-level exchanges and cooperation.

What opportunities do you see between Luxembourg and China, and this in both directions? 

There are good prospects for Sino-Luxembourg cooperation. Luxembourg is an important international financial centre. Its know-how in the fields of steel, finance and satellite management has reached an advanced level compared to the rest of the world. China is celebrating the 100th anniversary of the Chinese Communist Party. It has developed rapidly, and is now working to accelerate the construction of a new growth model. In the next 15 years, China’s imports of goods and services will exceed 30 trillion US dollars and 10 trillion US dollars respectively. This will create unprecedented opportunities for Luxembourg companies. I remain convinced that our two countries have great potential for mutually beneficial cooperation in the fight against the pandemic, the post-COVID economic recovery, the strengthening of the Air Silk Road, green finance, cross-border e-commerce, environmental protection, cultural exchanges, etc.

What risks and opportunities do you see in the China and Europe relationship in the coming years?

Sino-European relations are facing new opportunities as well as multiple challenges. China and Europe, as two great global powers, need to strengthen their cooperation in order to jointly address global challenges such as climate change, pandemic prevention, global economic recovery and maintaining multilateralism. Last year, Sino-European cooperation made remarkable progress in establishing two high-level dialogue mechanisms for green and digital development. There was the finalisation of negotiations on the China-EU investment agreement, and implementation of the China-EU agreement on geographical indication . Moselle wine, a famous Luxembourg brand, is among the beneficiaries of the treaty. The Sino-European collaboration, with its complementary and shared benefits, is still much greater than others. In order to jointly bring more certainty and stability to this uncertain world, both sides must firmly maintain their partnership, continuously strengthening their dialogue and properly managing their differences.