Hungarian government signs important economic cooperation agreements in China – UPDATE

Economic Development Minister Márton Nagy signed four cooperation agreements in China on Monday, after Prime Minister Viktor Orbán’s talks with Chinese Premier Li Qiang, his ministry said in a statement.

Nagy signed agreements on strengthening cooperation in the areas of the digital economy, cooperation and exchanges in economic development policy, cooperation on technological development and cooperation on strengthening digital economic development, the ministry said.

It noted that China is Hungary’s ninth-biggest trading partner and the world’s second-biggest economy. China’s economy has undergone extraordinary development over the past decades, turning the country into a global technological superpower, he said. Hungary aims to be a part of the global economy’s technological advancement, which requires deepening economic ties between the two countries, with a special focus on digitalisation and the development of the Digital Silk Road, Nagy said.

The agreements signed on Monday are aimed at bolstering cooperation in the areas of the digital economy, new energy carriers and CO2 reduction, 5G and 6G networks, the manufacture of pharmaceuticals and medical equipment, SMEs, the green economy and artificial intelligence, among others, he added.

The Hungarian economy now rests on more and more pillars, as since 2010 it has been transformed from a “periphery region” into a significant meeting point for Western and Eastern capital in high-tech sectors like electric vehicle manufacturing, Nagy said. This boosts investment and the export-based economy, contributing to growth and the protection of jobs and families, the ministry cited Nagy as saying.

As we wrote before, Asian guest workers flood Hungary but Chinese, Korean plants may never start operation, details HERE.

Also we wrote today, that Hungary continues to be a good friend of China, says PM Orbán in Beijing, details HERE.

UPDATE

Orbán holds talks with China Construction Bank chairman

PM Orbán held talks with China Construction Bank (CCB) chairman Tian Guoli in Beijing on Monday.

Citing a press release from the parties, Tian received Orbán’s delegation and accompanied the Hungarian officials to inspect the Dao Xiang Hu technological innovation retreat centre.