Portrait of Zixuan Xiong, CFA

Zixuan Xiong, CFA Consultant

Zixuan is a member of Oxera’s Finance and Valuation team. She has advised clients on subsidy control and state aid matters across various sectors including transport, energy and financial services. Her experience covers various state aid issues, including the application of the market economy operator principle (MEOP) and the assessment of state aid damages. She has also conducted economic and financial analyses to advise clients in ex-officio investigations under the Foreign Subsidies Regulation (FSR).

Prior to joining Oxera, Zixuan worked as a Senior Consultant for PwC’s economic consulting practice. She has extensive experience in economic and financial modelling, with a particular focus on regulatory finance and macroeconomic forecasting.

Zixuan speaks English, and Chinese.

Tel: +44 (0) 20 7776 6679

Zixuan's specialisms include:

Selected
professional experience

  • Advising a Chinese client subject to an ex-officio investigation by the Commission under the Foreign Subsidies Regulation (2026–)

  • Advising a client in an appeal of a Commission decision beforethe General Court relating to whether agreements comply with the MEOP (2026–)

  • Advising a national development bank on whether its proposed investment in specific funds could be deemed to be on market terms (2026–)

  • Advising low-cost carriers on the MEOP compliance of their agreements with various publicly owned airports in multiple EU Member States (2025–)

  • Advising Ryanair in relation to its appeals before the General Court regarding COVID-related aid granted to airlines such as Air France-KLM, SAS and Lufthansa (2023–)

  • Prepared an expert report in relation to a state aid matter in an arbitration proceeding (2024–25)

Qualifications

  • MPhil in Economic Research, University of Cambridge, UK

  • BSc in Economics, University of Cambridge, UK

  • CFA® charterholder

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