The Bank of China (BOC) will open its Central and Eastern European regional center in Budapest

Monday, October 27, 2014

The Bank of China (BOC) will open its Central and Eastern European regional center in Budapest this year said Hungarian Foreign Minister Péter Szijjártó after meeting the Chairman of the Bank of China Tian Guoli today in Beijing.

"Today's agreement means that the world's ninth most powerful bank, which gained a foothold in our country in 1997 will organize its regional operations from Hungary. This is a significant recognition of the Hungarian financial investment environment" said Szijjártó.

After meeting with the Hungarian foreign minister the Chairman of the Bank of China Tian Guoli stressed that the bank wants to play an important role in promoting the Chinese national currency in commerce and trade. Today, yuan is the second-most used currency in global trade finance after the dollar said the president.

Szijjártó highlighted that the BOC has been working with the Hungarian Eximbank and so far have supported the Wanhua BorsodChem investments with a joint loan of EUR 70 million but the two banks also finance several other companies in Hungary, including Huawei.

(mno.hu – hungarianambianace.com)

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