China and CEE central bank heads meet in Budapest

Heads of the central banks from 16 Central and Eastern European countries plus China meet on Friday in Budapest as part of the 16+1 initiative launched by China, Magyar Hírlap reports.

editor: REMIX NEWS

This is the most important banking event ever hosted by Hungary, with opening speeches by Prime Minister Viktor Orbán, Chinese Central Bank President Yi Gang and György Matolcsy, President of the Hungarian National Bank.

The 16+1 cooperation – an initiative of the Chinese Ministry of Foreign Affairs – was launched in 2012 in Budapest and aims to promote cooperation between China and the 16 regional states involved in it, as well as to support the Chinese One Belt, One Road economic initiative.

Hungary was the first European country to join the Chinese One Belt, One Road initiative. The 16+1 cooperation has made a series of steps in speeding up money transfers, clearing and settlement between China and the region’s states. It has also launched projects such as the E763 Highway in Serbia, the Budapest-Belgrade railway and the China-Europe land-sea express line. In Croatia it leads the first of the construction of the Pelješac bridge while in Poland it has acquired the civil engineering machinery division of defense contractor and steel mill Huta Stalowa Wola

Title image: György Matolcsy, President of the Hungarian National Bank.


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