Economy Minister Mihály Varga said the agreement would help further intensify Hungarian-Chinese economic relations. China’s biggest commercial bank has also signed cooperation agreements with the National Bank of Hungary, the Budapest Stock Exchange, the State Debt Management Agency and Eximbank.

The Bank of China and China Unionpay will jointly issue a yuan debit card in Hungary, Tian Guoli said. This will be the first yuan bank card in central and eastern Europe, he added.

The cards will be managed in Hungarian forint and Chinese yuan and will be accepted by more than 2,000 points of sale and hundreds of ATMs, Tian Guoli said.

Republished with permission of Hungary Matters, MTI’s daily newsletter.

MTI photo: Balogh Zoltán