Giorgi Matolksi also spoke at the thematic event of the Belt and Road Forum in Beijing, announced Magyar Nemzeti Bank, which World economy Sum it up. In addition to his presentation at the conference, the central bank chief discussed with several leaders of the Chinese financial system more opportunities for financial and economic cooperation between China and Hungary.
According to the report, the Central Bank Governor said in his presentation that Hungary’s “Open to the East” policy fits well with the Belt and Road goals, which is why our country was the first country in Europe to join the Belt and Road Initiative. initiative.
Giorgi Matolksi added that the development of the initiative into a multilateral cooperation platform contributed to the birth of the so-called Eurasian era, as the role and weight of Eurasia has increased in recent years.
The global economic center of gravity is shifting due to China and other emerging Asian economies, so the EU’s competitiveness depends to a large extent on cooperation with China.
Giorgi Matolksi emphasized that radical changes have occurred in the world recently, and according to him, now, in the 2020s, we can witness a cycle that shows many similarities with the 1940s and 1970s.
He believed that the impact of external shocks is very clear, just look at energy prices, which require greater energy efficiency and innovation, and also put competition for energy resources at the forefront of global politics.
At the Belt and Road Initiative Forum, the Central Bank Governor held numerous consultations with prominent Chinese state partners of the National Bank of Hungary: Head of the Development Research Center of the State Council of China, Minister Lu Hao, with whom they agreed on directions for further professional cooperation. In addition, with the heads of Chinese commercial banks such as the Industrial and Commercial Bank of China (ICBC) or the China Construction Bank (CCB).
A concrete agreement has already been reached
Prime Minister Viktor Orbán held a meeting with Chen Siqing, President of the Industrial and Commercial Bank of China (ICBC), as part of his visit to China, the Ministry of Economic Development reported on Wednesday. After the meeting, Economic Development Minister Marton Nagy signed a cooperation agreement with Liao Lin, CEO of the Industrial and Commercial Bank of China.
The purpose of the memorandum is to further develop financial relations between Hungary and China.
Enhancing trade relations between the two countries and promoting trade cooperation in the fields of investment, financing and payment, including financial technology innovations in the field of artificial intelligence applications.
In its announcement, the Ministry also noted that in the cooperation agreement, the two parties place particular emphasis on the possibilities of financing infrastructure and green projects, as well as on the issue of establishing the entire supply chain of Chinese companies in Hungary.
Regarding the agreement, Economic Development Minister Marton Nagy stressed that Hungary intends to become not only an economic meeting point for Western and Eastern capital and advanced technology, but also a regional financial center.
The agreement also confirms: The two parties are working to open a branch of the Industrial and Commercial Bank of China (ICBC) in Hungary.
The Industrial and Commercial Bank of China (ICBC) is the world’s largest bank, providing comprehensive financial products and services to a total of 11 million businesses and 729 million retail customers worldwide.
The agreements come from China
As is known, the Hungarian government delegation led by Prime Minister Viktor Orbán is visiting China for about a week. Prime Minister and Marton Nagy have already reported several successful cooperation agreements this week. Following the meeting between Viktor Orbán and Chinese Premier Li Qiang on Monday, Economic Development Minister Marton Nagy signed four agreements in the presence of the two prime ministers:
- Regarding strengthening cooperation in the field of digital economy,
- Concerning cooperation and exchange in the field of economic development policy,
- On cooperation in the field of technology development,
- And enhancing cooperation in the field of digital economic development.
Speaking about the cooperation agreements, Marton Nagy stressed that China is Hungary’s ninth most important trading partner and the second most important economy in the world. The Chinese economy has witnessed exceptional development in recent decades, and has become a global technological superpower.
