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Development minister meets with Chinese finance-industry and company officials in Shanghai

National Development Minister Tamás Fellegi met in Shanghai on Saturday with Chinese businessmen and representatives of financial companies.

Fellegi, who also serves at the government’s commissioner for Chinese-Hungarian bilateral relations, met representatives of member companies of the China Council for the Promotion of International Trade (CCPIT) on Saturday afternoon. Hungary’s National Association of Employers and Entrepreneurs signed a long-term cooperation agreement with CCPIT during Prime Minister Viktor Orbán’s visit to China last November and the two sides are now planning to hold regular meetings annually, Fellegi said.

Fellegi held discussions with the representatives of Haitong, Foshun, Yunfeng Fund, Tebon and CMBC, and discussed ways of involving these companies in investment, crediting and government security purchases in Hungary.

Haitong and the Hungarian Development Bank (MFB) may cooperate regarding bond issues in Shanghai and Hong Kong, and Foshun could act as the Chinese side in the field of reinsurance, Fellegi said.

The Hungarian minister also met officials of car, electronics and pharmaceuticals companies, and briefed them of investment, credit-provision and bond-purchase opportunities in Hungary.

The national development minister, who is in China for a one-week visit at the head of a Hungarian business and financial delegation, will continue talks in Hong Kong and Shenzhen.