Varga said the NBH aimed to play an active role in achieving that goal.

The AFCA Financial Summit Forum was organised by the NBH, the Asian Financial Cooperation Association (AFCA) and the Hungarian Banking Association.

Varga highlighted Hungary's strategic cooperation with China, extending to finance, economy and infrastructure, and pointed to Hungary's issues of offshore and onshore renminbi bonds, financing for the upgrade of the Budapest-Belgrade rail line, a flagship project of the Belt and Road Initiative, and local cooperation between European automotive industry companies and Asian battery suppliers.

He noted that Hungary's government had launched its Eastern Opening policy in 2010, while the country had joined the Belt and Road Initiative in 2015 and the Asian Infrastructure Investment Bank in 2017.

Varga urged closer cooperation between central banks to manage the risks of climate change and make the green transition. He added that maintaining disciplined monetary policy was indispensable for market stability.

He suggested the financial sector could play a more active role in advancing future industry and making energy developments.

 

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

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