Bulletin
Investor Alert

Feb. 16, 2019, 3:11 p.m. EST

Hungary : Financial cooperation is one of the most rapidly growing areas of Hungarian-Chinese relations

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

Feb 16, 2019 (Euclid Infotech Ltd via COMTEX) -- Financial cooperation is one of the most rapidly growing areas of Hungarian-Chinese relations, Minister of Finance Mihly Varga said at todays meeting with Bank of China Vice Chairman Liu Liange.

The fact that the Hungarian economy has been performing remarkably well even from a European perspective posting GDP growth of 4.8 percent which figure is three-times higher than the EU average -- provides a sound foundation for the trade and investment relations of the two countries, he pointed out. Hungary has been an attractive investment destination for Chinese companies: the volume of investment by Chinese enterprises in Hungary exceeds USD 4.2bn by now, and these companies give work for more than 15 thousand people.

Factors such as Hungarys cooperation with the Bank of China, Hungarys membership in the Asia Infrastructure Investment Bank (AIIB), the opening of an OTP representative office in Beijing and Hungarys active participation in Chinese financial funds are increasingly strengthening financial relations between the two countries. The Bank of China has also established a regional and CEE headquarters in Budapest, Mihly Varga said.

The Government regards it a major achievement that Hungary was the first sovereign issuer that in 2017 successfully sold government bonds both on the onshore market and in Hong Kong, he noted.

This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.