Minister of Finance Yuriko Backes recently embarked on an official visit to China, where she engaged in discussions with her Chinese counterpart, Liu Kun, to address various macroeconomic and geopolitical tensions, notably those concerning Ukraine.

Backes, the first European Finance Minister to visit China since the end of the pandemic, returned to Luxembourg on Thursday.

During her visit, one of the primary topics of discussion centred around the development of financial services between Luxembourg and China, in addition to the role of finance in combating global warming.

The Minister also took advantage of her stay in China to hold a number of discussions with professionals from the Chinese banking sector. In Shanghai and Beijing, she met some of the directors of banking institutions present in Luxembourg.

A memorandum of understanding was also signed between the Luxembourg stock exchange and China Everbright Bank. This agreement marks an initial step towards further integrating European financial markets into China's economic landscape.