Viktor Orbán emphasized that economic and financial relations between China and Hungary are expanding.Continue reading
The Magyar Nemzeti Bank (MNB), Hungary’s central bank, organized the Budapest Renminbi Initiative Conference on “Financial Interconnectivity and the Green Transition”.
Speakers discussed renminbi financing, the role of Budapest as a financial center in the Central and Eastern European region, and the green and sustainable financial activities of central banks, according to the bank’s statement.
This year, MNB hosted the Budapest Renminbi Initiative Conference for the seventh time, a unique event in the development of Sino-Hungarian financial and economic diplomacy relations. The series of events was launched in March 2015 with the aim of further strengthening the partnership with the People’s Bank of China (PBoC) and promoting dialogue on the importance and impact of the internationalization of the Chinese currency, the renminbi (RMB).
The opening ceremony was attended by Mihály Patai, Vice President of the MNB, Yang Chao, First Officer and Chargé d’Affaires Pro Tem of the Chinese Embassy in Budapest, Xu Chen, President of the Bank of China in Europe, and Zhang Jun, Dean of Fudan University, who shared their thoughts.
In his opening remarks, Mihály Patai stressed the MNB’s commitment to the internationalization of the RMB, both through its close partnership with the Chinese central bank and its good relations with the growing Chinese financial institutions in Hungary. The speakers agreed that financial cooperation is one of the catalysts for relations between China and East-Central Europe, including in the framework of the One Belt, One Road initiative announced by China.
Featured photo via MTI/Koszticsák Szilárd