China Business Group

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Who we Are

PwC Luxembourg China Business Group

We have set up a dedicated team with a focus on serving Chinese funded companies and financial institutions for more than a decade. Our team consists of native Chinese-speaking professionals from all lines of services, including assurance, tax & advisory, supported by a wide range of subject matter experts. We support clients from all sectors and industries to excel in their business in China and in Europe.

Doing business in China

PwC Luxembourg is committed to providing high-quality services to multinational companies investing in China. We maintain an expedient position and extensive connections within our international network. As we also have direct access to the technical resources of PwC offices in China, our firm is perfectly equipped to respond to your various needs.

 

Assisting Chinese companies in doing business in Europe

We provide Chinese companies with a comprehensive array of professional services, ranging from audit, business and financial advice to global human resources solutions, management consulting and tax services. Our experienced team of Chinese-speaking professionals can help you in all aspects of your journey in Europe. As part of the PwC EU Chinese Business Group (EU CBG), we are equipped with the capacity to serve our clients jointly with PwC firms across the EU.

Why Luxembourg?

  • Listed among the top 5 leading financial centres in the EU;
  • Political stability and AAA rating country;
  • Solid legal and fiscal framework;
  • A multilingual environment with 3 official languages: Luxembourgish, French and German;
  • The financial regulator accepts 3 official documentation in English, French and German.
  • Centre of Europe, literally;
  • 2-hour flight from most financial centres;
  • 40% of EU wealth within 500 kms and 70% of EU wealth within 700 kms.
  • 120+ international banks from 25 countries with approximately €1 trillion in assets;
  • European HQ of 7 Chinese banks;Chinese banks make up the second largest group at 11.6% of market share in Luxembourg banking sector;
  • One other bank is owned by Chinese shareholders.
  • 1st European fund domicile and 2nd largest fund centre globally;
  • Over half (56%) of global market share in cross-border investment funds.
  • Over 77 insurance and 203 reinsurance companies make Luxembourg the leading cross-border insurance hub in the EU;
  • 1st largest captive reinsurance domicile in the EU;
  • EU headquarter of the first Asian insurance company in Europe.
  • Luxembourg Stock Exchange is the first global exchange dedicated to sustainability;
  • 1st leading green financial centre in the Eurozone and largest market share of listed green, social, sustainable and sustainability-linked bonds;
  • EUR 1 trillion worth of outstanding green, social, sustainability and sustainability-linked (GSSS) bonds on the Luxembourg Green Exchange securities, including 2000+ labelled bonds and 3600+ securities.
  • Digital innovation and artificial intelligence initiatives are at the heart of Luxembourg’s strategy to become a leader in digital technology services (LHoFT, Ministry for Digitalisation); 
  • Over 220 FinTech innovators operating out of Luxembourg;
  • Luxembourg is the ideal innovation location chosen by major payments players for their EU HQs.
  • Largest global domicile of investment funds investing into Mainland China;
  • 74.7% of European funds investing in mainland China are Luxembourg funds;
  • Global leading Dim Sum bond listing centre.
  • 1st in the world for talent attraction;
  • 3rd most inclusive economy in the world, promoting equal opportunities for all; 
  • International schools with high quality schooling options, including public, private, European and international schools.

Why PwC Luxembourg?

  • Trusted and Devoted: A 20-year long-term companion from CBG;
  • Largest firm of the Big Four in Luxembourg, 9th largest employer in Luxembourg;
  • Rich experience with top Chinese financial institutions and companies;
  • We listen, we speak: our team of Chinese-speaking professionals are ready to listen and respond to your needs;
  • One-stop shop for all: cross-industry services to offer a comprehensive solution that addresses all of your needs;
  • We know China: close collaboration with PwC China around various topics. We stay in trend with the Chinese economy and political environment.

Data Source: PwC Luxembourg, Luxembourg for Finance and Statistiques.lu by the end of Q3 2024

Our services

Managed services

At PwC we deliver scalable solutions that add greater value, through a digitally enabled experience. The Managed Services Hub is a one-stop shop offering all of our Managed Services propositions in one place and giving our clients the ability to track the delivery of these services. It’s aimed at clients with regulatory, risk and compliance requirements.

Our Managed Services value chain in one place:

  • The Managed Services Hub allows you to find all of our Managed Services in one place. You can explore our services by selecting the industry in which you operate and filtering our service catalogue according to your lifecycle management needs or value chain demands.

Track progress and deliverables:

  • The Managed Services Hub sits at the heart of our integrated service delivery model. It provides clients with a single entry point into the firm with access to our suite of tools to monitor engagement progress, exchange documents, access applications and relevant insights to the work being performed.

Find out more

Chinese Banks

The 2020’s decade is set to be a decade of change for the banking and capital markets industry. It all started with the digitalisation wave that started to hit the sector a few years ago, followed by the Covid-19 pandemic, and more recently with the rise of ESG and artificial intelligence, which all forced banks to reinvent their operating models to keep up with their clients' evolving needs. But on top of existing challenges for banks such as the pace of new risk and regulatory topics, new concerns such as cybersecurity have arisen. To help you cope with these challenges (and any other), PwC experts are here to accompany you no matter where you are in the process.

Our multidisciplinary teams can assist you in various domains, providing assurance on your financial statements, helping on regulatory and tax matters as well as developing solutions that fit your specific needs.

 

Find out more

Alternatives and AWM

Our indisputable leadership in alternatives is based on our expertise. We support our clients through every stage of the product lifecycle - from the beginning to the end, and provide all financial services (tax, assurance and advisory) related to efficiently setting up, structuring, and distributing funds for regulated and unregulated entities.

Alternatives

AWM

New market entry entities

For Chinese entrepreneurs who are looking for outbound opportunities into Luxembourg and Europe and to establish an international presence, we provide one-stop shop solution to assist you all along the way from setting up to fully functioning in Luxembourg.

Key challenges:

  • Lack of market practice and local relationships;
  • Lack of knowledge of setting up regulatory procedure and protocols.

Armed with extensive experience and in-depth local market knowledge, PwC Luxembourg offers unique insights and practical solutions to varied complex needs of businesses.

Create and setups:

  • Defining the most effective structure for your investment in Europe;
  • Providing customised, pro-active and comprehensive set-up services; 
  • Identifying and assessing market opportunities and conducting feasibility studies for market entry strategies.

Capital raise:

  • Finding and evaluating local partners and alliances.

Sustainable growth:

  • Helping with the day-to-day practicalities of doing business in Luxembourg and offering on-going support:
  • Advising you on various aspects of international mobility including expatriate tax and other HR-related issues;
  • Identifying appropriate targets for acquisition, consulting on possible deal structures, performing commercial and financial due diligences, as well as providing post-deal integration services.

Tax governance:

  • Assistance in designing and implementing a robust tax function;
  • Assisting you in understanding the various reporting schemes and in making sure you comply with the local requirements.

Compliance with regulatory requirements:

  • Helping you develop best practice governance, policies, systems, processes and methodologies to identify, measure, manage, reduce and report any risk that your institution is facing or might face in the future.

Institutional with operational licences (banks, insurance companies, payment, and e-money institutions, etc)

  • Setup/Relocation/Licensing:

Assisting you along the whole process of licence application, from the initial identification of the most suitable licence via the initial discussions with the regulator to the drafting of the application file and treatment of subsequent questions.

  • Operation/Transformation:

Helping you to cover all key aspects of your business performance review and revamping operational and digitalisation projects or any project aiming at driving an increased profitability and enhanced customer experience.

  • Investments:

Providing you with the necessary tools and support to understand and master both the technical and governance aspects of every type of investment for a successful setup and execution.

  • Product development:

Supporting you in expanding new products or services and placing them into existing or new markets. Ensuring local markets compliance of new and existing products is paramount to limit your distribution and misspelling risk.

  • Compliance diagnosis and implementation:

Helping you to conceptually, strategically and operationally understand and implement European and Luxembourgish regulations.

  • IT regulatory and outsourcing services:
    • Compliance and TOM evaluation;
    • On-site inspection readiness evaluation and remediation support;
    • Authorisation and notification assistance (i.e. Outsourcing, IT and cloud computing).

Contact us

Xiaoyan Huang

Director, China Business Leader, Tax Specialist, PwC Luxembourg

Tel: +352 62133 38 20

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