Hungary eyes financial hub role in Europe with boost from Bank of China
National Economy Minister Márton Nagy has met with the Hong Kong executives of the Bank of China, his ministry said in a statement on Friday.
The talks, in Hong Kong, were of “strategic significance” and touched on the possibility of the issue of dim sum bonds, the ministry said. It noted that Hungary had earlier conducted successful off-shore and on-shore issues of bonds with the cooperation of Bank of China.
The ministry acknowledged Bank of China’s commitment to supporting the further development of Chinese-Hungarian ties, especially in the framework of China’s Belt and Road Initiative and the Hungarian government’s Eastern Opening policy. It also pointed to close cooperation between Hungary and other Chinese lenders, such as China Construction Bank, the Export-Import Bank of China and China Development Bank.
For decades, Bank of China has played a key role serving Chinese companies operating in Hungary and strengthening bilateral trade and financial ties, the ministry said. Hungary aims to become a financial hub for the region and a bridgehead for Chinese financial institutions doing business on European financial markets, it added.
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