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Chinese-Hungarian trade becomes more technology-intensive

Technology-intensive rather than labor-intensive products are making up an increasing share of trade between China and Hungary, Chinese ambassador to Hungary Gao Jian said at an event organized by the American Chamber of Commerce (AmCham) on Thursday.

Machinery and IT industry products accounted for about 90% of bilateral trade between Hungary and China last year, Jian said.

Bilateral trade between the two countries rose 28% to $8.72 billion in 2010, he added.

China has invested $2.5 billion in Hungary, mainly in the financial, aircraft, trade, chemicals and logistics industries, Jian said.

Answering a question, Jian said the right channels must still be found to sell special Hungarian products such as Tokaji wine, Mangalica pork products and goose liver in China. "In China, the people only know French wine and French foie gras," he said.