Hungary has a key positon in some aspects in the region, which can make it easier to utilise the advantages of the Opening to the East Strategy.
First, Hungary’s central bank is the only central bank which has signed a bilateral swap-line agreement with the Chinese central bank (PBoC). The swap-line contract may help to ensure adequate liquidity for domestic and regional financial settlements in the coming years.
Since the beginning of 2000, Hungary has been the main target country for Chinese FDI in the region. The CEE region’s share of Chinese FDI was also quite remarkable.
Furthermore, many Chinese corporations are based in Hungary which provides an additional advantage from the point of view of Chinese business diplomacy. Hungary’s Opening to the East Strategy has also helped to enhance Sino-Hungarian relations.
As the capital of Hungary, Budapest is situated in the middle of the country and has a highly competitive infrastructure. This city is also the center of business life and plays an increasingly strong role in tourism.