Chinese intensify commitment – The Budapest Times

Written by Rainer Ackermann

Finance Minister Mihály Varga received the President of the China Development Bank (CDB), Tan Jiong, in his office.

According to the Finance Ministry, the CDB is the largest development bank in the world. It specialises in longer-term loan and bond constructions. Since 2022, the CDB has had a branch in Budapest for the Central Eastern Europe region.

In 2023, Chinese companies invested a good 7.6 billion euros in Hungary, which has risen to become the top location in the region. The projects of CATL in Debrecen and BYD in Szeged as well as Huayou Cobalt and EVE Power are outstanding. China is now the second largest economy in the world and Hungary’s largest trading partner outside the EU with a share of around 4%.