The Minister of Finance emphasized that Chinese financial institutions trust the Hungarian economy, and several Chinese banks have chosen Hungary as their location in recent years.
Financial cooperation is one of the fastest growing areas of Hungarian-Chinese relations, and Hungary is a bridgehead for Chinese financial institutions entering the European financial market, Mihály Varga said in a press release from the Ministry of Finance on Wednesday.
The finance minister held talks with the heads of the Bank of China, China Construction Bank and China Development Bank in Beijing.
The Minister of Finance highlighted:
Chinese financial institutions trust the Hungarian economy, in recent years several Chinese banks have chosen Hungary as the location of their operations.
The operations of the Bank of China, the China Construction Bank and the Chinese Development Bank in Hungary are a good example of the fact that Chinese financial institutions see Hungary as a European bridgehead, the Minister of Finance pointed out.
As he said:
Hungary has also successfully entered the Chinese financial market, in recent years it has carried out successful government bond issues on the Chinese and Hong Kong bond markets, thus ensuring that the financing of our country stands on several legs.
In 2021, Hungary carried out a successful Green Panda bond issue for the first time in the world on the Chinese market and issued a green government bond worth 1 billion renminbi, i.e. about HUF 50 billion, explained the Minister of Finance.
The head of the portfolio stated: we expect to issue a Panda bond in the second half of this year, which can further strengthen the security of Hungarian debt management.
MTI
Featured image: MTI/EPA/Olivier Hoslet
