Chinese green transport company opens office in Budapest

Deals

press release

The European representative office of CRRC Industrial Investment Co. Ltd. opened today in Budapest, Hungary, Wang Gongcheng, the chairman of CRRC Industrial Investment Co. Ltd., announced at a press conference today.

The opening of the office is the first step by Chinese firm CRRC Urban Traffic Co. Ltd. in entering the European market. Gongcheng said that the opening of the office is an important step in the foreseen expansion of the company in the continent. 

The main tasks of the Budapest office includes investing in, acquiring and carrying out top-notch technology and leading industrial projects, in the field of energy, transport, environment protection, telecommunication and biomedicine, according to a press release issued by the company.

The company offers energy-efficient urban public transport solutions that cover every aspect of urban transport, Gu Yifeng, the president of CRRC Urban Traffic Co. Ltd., said at the conference. He added that the company believes Budapest is the best location for the fastest expansion of the firm in Europe.

CRRC Urban Traffic and the Regional Center of the Bank of China signed a financial memorandum at the event, under which the two entities will jointly offer complex urban transport solutions for European and especially for Central Eastern European countries, the press statement said.

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.