Chinese Ambassador to Luxembourg Hua Ning said now is the right time for China and the European Union to deepen cooperation, welcoming European partners to further invest and grow in China while encouraging Chinese enterprises to expand into Europe.

Hua made the remarks at a financial forum "Commercial Connections between Europe and China: Trusting, Bridging, Collaborating", hosted by the Industrial and Commercial Bank of China (Europe) S.A. in Luxembourg on Monday.

Held against the backdrop of the 50th anniversary of diplomatic relations between China and the EU, the event focused on strengthening bilateral cooperation in finance and trade.

More than 100 participants from financial institutions, corporations, think tanks, associations, and media outlets across China and Europe gathered to discuss key topics including China's macroeconomic outlook, two-way corporate investment, the development of China's bond market, the internationalization of the renminbi and global asset custody services.

"Finance is the lifeblood of the modern economy," Hua said in his keynote speech to the forum, expressing appreciation for the role of Chinese financial institutions in supporting cross-border economic engagement through efficient and innovative financial services.

Luo Wei, chairman of ICBC (Europe) S.A., reaffirmed the bank's ongoing commitment to expanding the use of renminbi and euro in trade and investment, enhancing China-Europe market connectivity, and strengthening cooperation in green and sustainable finance, leveraging Luxembourg's leading position in the sector.

Keynote speakers including Victor Gao, vice-president of the Center for China and Globalization, delivered expert analysis on China-EU bilateral relations, and exchanged views on the current landscape and challenges of bilateral investment.

Representatives from China's key financial infrastructure organizations, such as CIPS Co., Ltd. and China Central Depository & Clearing Co., Ltd, also reiterated their support for China-EU financial collaboration and provided detailed presentations of their ongoing initiatives.