Govt, Bank Of China Sign Strategic Cooperation Pact

  • 24 Jan 2017 8:50 AM
Govt, Bank Of China Sign Strategic Cooperation Pact
Hungary’s government and Bank of China (BoC) have concluded a strategic cooperation agreement. The document was signed by state secretary of foreign affairs and trade László Szabó and BoC Chairman Tian Guoli in Budapest in the presence of Prime Minister Viktor Orbán.

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

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