DK: China market economy status to impact Hungary steelmaker

Budapest, May 31 (MTI) – Granting China market economy status would threaten Hungarian steelmaker Dunaferr, the spokesman for the leftist opposition Democratic Coalition (DK), said on Tuesday.

Speaking at a press conference in Dunaújváros, in central Hungary, Zsolt Gréczy criticised the government for its recent decision to support European plans, and called it regrettable that the government “considers China’s economic interests more important than the city’s future”.

Zsolt Besztercei, a local deputy for DK, said that the measure would result in opening up the so far protected EU steel market to cheap Chinese steel.

This would seriously hurt the city where the steelmaker’s 6,000 employees could lose their jobs, he said.

The Hungarian foreign minister announced the government’s decision after a cabinet meeting on Monday. Recognising such status would foster further economic cooperation between Europe and China, which is of special importance for Hungary, Péter Szijjárto said.

Prime Minister Viktor Orbán is paying a visit to the city on Tuesday.

Source: http://mtva.hu/hu/hungary-matters