Hungarian, Chinese business partners seal deals worth nearly $2 bln

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Hungarian and Chinese companies signed contracts with a combined value of almost $2 billion in Beijing yesterday, Hungarian news agency MTI reported today.

"Today shows that itʼs no exaggeration to say that economic and political ties between Hungary and China have never been as good as now," Minister of Foreign Affairs and Trade Péter Szijjártó said at the signing of the contracts.

Hungaryʼs EPS agreed to set up a joint venture with Chinese mobile telecommunications company ZTE to establish and operate a mobile payment system for parking meters in China.

Hungarian low-cost airline Wizz Air signed a contract with the China Construction Bank on the lease of eleven new Airbus aircraft with a list price of $1.4 bln.

Chinaʼs Huawei agreed to support IT developments at the Széchenyi István University in Győr with some $300,000 in funding.

Hungaryʼs Eximbank and the China Development Bank have established a $500 million line of credit to support trade between the two partners.

Prime Minister Viktor Orbán recently led a government delegation to China to participate at a summit with other leaders from Central and Eastern Europe.

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