Varga said that the MNB aimed to play an active role in achieving that goal.
The AFCA Financial Summit Forum was organized by the MNB, 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 a 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.
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