LUXEMBOURG, June 21 -- Luxembourg's financial institutions are welcome to conduct business in China, visiting Chinese Vice Premier Ding Xuexiang said here on Thursday during a meeting with the country's Deputy Prime Minister Xavier Bettel.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said China values Luxembourg's status as an international financial center and its unique geographical advantages, and supports more Chinese enterprises to choose Luxembourg as an investment transit hub and a financial allocation center.

China-Luxembourg relations are developing well, Ding said, urging both sides to strengthen their traditional friendship, deepen practical cooperation, and promote the continuous advancement of bilateral ties to new levels.

Ding noted that China is willing to work with Luxembourg to boost cooperation in advantageous sectors such as steel and air cargo, accelerate the development of new areas of cooperation in the green economy, aerospace, and high-tech fields, and achieve higher-level and broader win-win cooperation.

Labeling China as an important partner for Luxembourg, Bettel said the two countries have achieved fruitful results in cooperation in the financial, trade, and economic fields.

Luxembourg highly appreciates China's firm commitment to and implementation of the Paris Agreement on climate change, and is ready to deepen cooperation with China in the electric vehicle sector to jointly promote green and low-carbon transformation, he said.

Bettel added that Luxembourg upholds a pragmatic approach to cooperation with China and opposes the imposition of additional tariffs and trade wars. Europe and China should engage in dialogues to bridge their differences and achieve mutual benefit and win-win outcomes.