Hungarian, Chinese firms sign deals worth USD 2 billion

Beijing, November 26 (MTI) – Hungarian and Chinese businesses on Thursday signed agreements worth nearly 2 billion dollars.

Hungary’s Eximbank and the China Development Bank agreed to open a 500 million dollar credit line to support exports to China by Hungarian small and medium-sized enterprises (SME) and investments in Hungary by Chinese firms.

“It is not an exaggeration to say that Hungarian-Chinese relations are at an all-time high,” Foreign Minister Peter Szijjarto, who attended the signing ceremony, told MTI.

Szijjarto said that apart from the credit agreement, telecom giant Huawei agreed to provide 300,000 dollars for Szechenyi Istvan University in Gyor (NW Hungary) for information technology and infrastructure developments.

Hungary’s EPS agreed to set up a joint venture with Chinese mobile telecommunications company ZTE to establish and operate a mobile payment system for parking metres in China.

Hungarian low-fare airline Wizz Air signed a contract with the China Construction Bank on the lease of eleven new Airbus aircraft with a list price of 1.4 billion dollars. Szijjarto said the deal will allow Wizz Air to further increase its passenger numbers, which came to 20 million over the past 12 months.

“The deals signed today will no doubt boost the competitiveness of Hungary’s economy,” Szijjarto said.

Photo: MTI

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