China Exim Bank ready to set up regional centre in Hungary

The Export-Import Bank of China is prepared to set up a regional centre in Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó said after a meeting with the lender’s president on Wednesday.

China Exim Bank will continue to support bringing investments by Chinese companies to Hungary, Szijjarto said in a statement issued by his ministry. “China Exim Bank ensures financing for companies operating in Western Europe, too, so its expanded presence in Hungary will boost the country’s economic competitiveness in Europe,” he added.

“Hungary’s economy has profited much by offering the best conditions in Europe for East-West cooperation,” he said, adding that Hungary had attracted about one-third of Chinese corporate investments in Europe, amid tight competition.

“Tens of thousands, even several hundred thousand jobs have been created because German and American companies can cooperate, without hindrance, with Chinese businesses in Hungary,” he said.

“We see East-West cooperation as an opportunity, not a risk,” he added.

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