Orbán government preparing to take out another loan from China?

National Economy Minister Márton Nagy met with China Development Bank President Tan Jiong on Friday, his ministry said.

The sides discussed joint projects Hungary and China are undertaking in the areas of infrastructure, energy, digitalisation and e-mobility. They also exchanged views on deepening the sovereign financial cooperation in the Chinese-Hungarian Cooperation Framework.

Nagy said ties between Hungary and China, including in the areas of financing cooperation, had “never been better”. Hungary strives to establish economic ties based on mutual respect that benefit all sides, and China and Chinese financial institutions are very important partners in that endeavour, he added.

He acknowledged China’s strengthening role in global financing and the country’s increasing weight in global investments. Hungary has become the number one destination for Chinese investments in Central and Eastern Europe, and the country aims to enhance its role as a bridge for capital, know-how and technology from the East and the West, he added.

He said Hungary was counting on Chinese financial institutions in implementing infrastructure projects in the framework of the government’s economic development strategy, including the V0 railway bypass around Budapest, a rapid rail line connecting Liszt Ferenc International Airport with the centre of the capital, and upgrades of infrastructure at crossings along the border with Serbia. He said the upgrade of the Budapest-Belgrade rail line, another project backed by Chinese financing, was expected to finish in the summer of 2025.

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