June 24th, 2011

Chinese PM starts two-day visit on Friday

Wen Jiabao, the Chinese Prime Minister, is scheduled to arrive on a two-day official visit to Budapest on Friday.

Several trade agreements are expected to be signed during his visit. Wen’s programme includes a meeting with Prime Minister Viktor Orban and with Hungary’s President Pal Schmitt on Saturday. The two prime ministers will attend and address a Central and Eastern European economic forum organised by the Hungarian Academy of Sciences.

Facts about Hungarian-Chinese relations:

– Hungary and China establishes diplomatic relations on October 6, 1949

– Central Europe’s largest Chinese community, numbering tens of thousands, lives in Hungary

– Hungary and China signs a joint declaration on June 10, 2004 to re-qualify their cooperation as a “friendship cooperation partnership”

– The first visit by a Hungarian prime minister to China after the transition to democracy takes place in 2003 when Prime Minister Peter Medgyessy heads a delegation for a four-day official visit to China

– Prime Minister Viktor Orban visits China at the invitation of his counterpart Wen Jiabao to attend the closing events of the Shanghai world expo

– Meeting again in Shanghai, Orban and Wen agree to tighten bilateral political, economic and cultural relations

Economic, business ties:

– Chinese telco ZTE Corp signs contract in August 2010 for building 2G, 3G and 4G mobile networks in cooperation with Telenor Hungary over the next five years

– Chinese investors purchase the heritage-listed Turkish-style Tisza Szallo in Szolnok (C) for an undisclosed sum, estimated in the hundreds of millions of forints

– China’s Wanhua Industrial Group, buys a 96 percent stake in Hungarian chemicals company BorsodChem and injects 140 million euros worth of capital

– A joint Chinese-Hungarian solar panel manufacturer sets up in Berettyoujfalu (E) in March 2011

– Tamas Fellegi, the national development minister and commissioner in charge of economic ties with China, heads a delegation to China in April 2011 where he meets State Councillor Dai Bingguo, People’s Bank of China Governor Zhou Xiaochuan and business executives in Hongkong and Senzhen to promote long-term strategic cooperation

– The China Railway Construction Corporation signs a strategic agreement on its involvement in the comprehensive financial restructuring of Hungarian state railway MAV.

– Hungary becomes the second largest logistics base for Huawei after it announces in April 2011 plans to expand production and logistics services in Komarom (NW) and Pecs (SW)

– Chinese investors sign 10-million-euro deal on building a LED assembly plant in Miskolc (NE) in May 2011

Trade, investment:

– Bilateral trade in 2010 reached 8.72 billion dollars, up 28 percent from the previous year

– Hungary-China trade rose a further 20.7 percent in the first two months of this year

– Chinese investments in Hungary totals 2.5 billion dollars, mainly in the financial, aircraft industry, trade, chemicals and logistics sectors

– Joint ventures in Hungary have increased labour force by 10,000 and the number of Hungarian projects launched in China in 2010 exceeded 670

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  • wolfi

    Let’s hope something will come out of this!

    We had to go into Budapest by car today and it seems there were some young Chinese demonstrating near the “Nemzeti Muzeum” – a lot of police cars held up traffic there for a while …

    So Hungarian politicians shouldn’t forget, that China is no democracy by any means – or do they want to become Hungary like “The People’s Republic of China” ? Would that go together with “King Victor” or maybe “Victor, the Emperor” ?

    PS: I went to China 20 years ago on business – and people were not really fond of politics then …

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