On 29 October 2013, a grand opening ceremony was held at the Royal Hotel Luxembourg to celebrate the establishment of China Construction Bank (Europe) S.A. (hereinafter ‘CCB Europe’) and China Construction Bank Corporation Luxembourg branch (hereinafter ‘the Luxembourg Branch’). Speeches were delivered by Mr. Wang Hongzhang, Chairman of China Construction Bank Corporation, Luc Frieden, Finance Minister of Luxembourg, and Mr Zeng Xianqi, Ambassador of the People's Republic of China to Luxembourg, who attended the opening ceremony. The Ceremony was chaired by Mr. Zhao Huan, the Vice Executive President of China Construction Bank Corporation. More than 300 people from wide business community of Luxembourg and other European countries attended the ceremony.

In his speech, Mr. Wang Hongzhang stated that since 1991 when CCB started establishing branches overseas, the application and establishment of the two Luxembourg entities was the fastest, which could be called the “Luxembourg Speed”.

The outstanding geographic position, mature financial environment, efficiently running government, prudent regulators and standardized industry management rules, especially the welcoming and opening attitude to Chinese banks are the key reasons which attracted CCB to Luxembourg. In the future, CCB Luxembourg entities will focus on the development of corporate banking, fund management, private banking, wealth management and Renminbi business. In the meantime, CCB is considering expanding its business in Europe from the platform of Luxembourg, in order to provide more comprehensive and better financial service to clients from both Europe and China. He wished to receive continuous support and help from the wide business community in Luxembourg.

Mr. Luc Frieden welcomed the establishment of CCB warmly, and thanked CCB for their choice of Luxembourg as European Headquarter. He stated that it was not only a result of persistent efforts of both sides, but also an epitome of mutual trust and cooperation between the two countries on political, diplomatic and economic fronts for the long term. Luxembourg government will be very supportive to CCB on its expansion of market and financial services in Europe from the hub of Luxembourg, and will continue to provide CCB with all necessary help and support as required.

China Construction Bank (Europe) S.A. and China Construction Bank Luxembourg Branch obtained their banking licenses from the Ministry of Finance of Luxembourg in July 2013. Both banks are located at No.1 Boulevard Royal of Luxembourg City, adjacent to the Central Bank of Luxembourg.

Upon their establishment CCB Europe and the Luxembourg Branch would leverage on the economic, financial and geographic advantages of Luxembourg. They would not only try to grow its asset size by covering the European area from their base in Luxembourg, but would also actively expand CCB's network in Europe with the help of the "European passport" enjoyed by CCB Europe, in order to provide quality financial services to all types of customers in Europe.

For the initial stage CCB Europe and the Luxembourg branch would focus on corporate banking and financial market services, targeting large and medium-sized Chinese-funded enterprises in Europe and European multinational corporations that have close business relationships with CCB. Priority products for joint marketing efforts with domestic CCB branches would be loans, trade financing, international settlement, and cross-border Renminbi business.

As one of China's largest commercial bank, CCB's business performance has won wide recognition of the market and the industry. CCB's total assets amounted to US$2.42 trillion at the end of June 2013, and net profit for the first six months reached US$19.5 billion. Annualised return on average assets was 1.66%, and the annualised return on average equity was 23.90%. The capital adequacy ratio and core capital adequacy ratio were 13.34% and 10.66% respectively, accompanied by a low non-performing loan ratio of 0.99%. In 2012, CCB was ranked first in the The Banker’s Top 10 Banking Brands in Asia pacific Region, and 6th in the Top 1000 World Banks, which is first among China banking sector.

Up to now, CCB has established 17 branches and subsidiaries in 15 countries and areas, with overseas assets over US$100 billion. From the beginning of this year, the bank’s overseas expansion accelerated: a subsidiary was opened in Russia on March 21; Another was opened in Dubai on May 13; On June 27, the Taipei Branch opened; On the same day in Hong Kong, an integration of CCB Hong Kong Branch and China Construction Bank (Asia) Corporation was announced; On top of these, the Osaka Branch opened on October 25.