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The Hungarian city of Debrecen and the Inner Mongolia Autonomous Region signed a framework agreement on cooperation in Budapest on Thursday.
The agreement will bring to Debrecen Chinese direct investment of €30m this year and a further €100m later on, said Debrecen mayor Lajos Kósa.
As part of the agreement, an Inner Mongolia technology and cultural park will be established in Debrecen and an international equestrian cultural centre will be set up in the Chinese region.