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Figures of renminbi business in Luxembourg have again shown an impressive growth in the first quarter of 2014 and confirm the country’s leading position in international renminbi business. RMB deposits increased by 24% to 79.4bn RMB compared to 2013’s end of the year figures. RMB loan portfolios now amount for 73.0bn RMB, passing a slight decline in Q4 2013 and showing an impressive increase of 36%.
Trade finance figures remain stable, reaching 33.9bn RMB. Luxembourg thus has the largest trade finance volumes in Europe. Also in the area of investment funds, RMB business grew to 261.8bn RMB. As the world’s largest investment fund centre, Luxembourg naturally heads this business field in Europe. The most significant development can be registered in RMB securities...
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