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Development Minister in Beijing for business talks

The details of a rapid rail link between Liszt Ferenc International Airport Budapest and the city centre, the content and the method of financing of a list of projects that could be supported with some €1bn, and the framework for the construction of a logistics and cargo base were discussed at talks on the first day of an official visit to Beijing by National Development Minister Tamás Fellegi.

Fellegi said the main goal of the talks was to close matters on which decisions can be taken at a political level, after agreements are reached at the expert level.

He confirmed that China is continuing to buy Hungarian government securities. He declined to reveal any details about developments that could affect national carrier Malév.

Fellegi said he spoke with the chairman of the China Railway Construction Corporation (CRCC) about earlier agreed on projects. The chairman personally expressed his support for a high degree of participation by Hungarian suppliers in the projects, he added.

The rapid rail link between Liszt Ferenc International Airport and the city centre will be the first project, he said.

Fellegi continued talks with the management of the China Development Bank on a general cooperation framework as well as the method of financing €1bn of projects in Hungary.

The projects are expected to enter the funding framework after being individually approved, Fellegi said. The funding framework could grow if the first projects show a well-functioning bilateral cooperation, he added.

The full list of projects is not yet public.

Fellegi will continue talks in Beijing on Friday.

Chinese Prime Minister Wen Jiabao and Hungarian Prime Minister Viktor Orbán announced the €1bn credit line to advance mutual investments with Hungarian partners during an official visit by the Chinese premier to Budapest in June.