Money acquisition before the elections? Hungarian National Bank signs cooperation agreement with Chinese counterpart

National Bank of Hungary (NBH) governor Mihály Varga has signed a cooperation agreement with the governor of the People’s Bank of China, Pan Gongsheng, the central bank said on Wednesday.

The agreement will further strengthen cooperation between the two central banks and promote knowledge-sharing in areas such as green finance, financial stability and the fight against cyber fraud, Varga said. The sides will also support each other in the areas of central bank digital currency, artificial intelligence, instant payment systems and the promotion of financial know-how, he added.

He noted that Hungary had attracted EUR 3.1bn of Chinese FDI in 2024, more than any other country in Europe. Varga is on an official visit to China and will participate at the Lujiazui Forum, a finance industry meeting in Shanghai.

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