In witness of Chinese Premier Li Keqiang and Hungarian Prime Minister Orban Viktor, the Subscription Agreement was signed by Chairman Jiang Jianqing of SINO-CEE Fund and CEO Zoltan Urban of Hungarian Export-Import Bank Plc(Hungarian Eximbank) on November 28, 2017 in Budapest, Hungary. SINO-CEE Fund aims to raise a total of 10 billion euros, and Hungarian Eximbank will subscribe to 100 million euros on accumulative basis.
SINO-CEE Fund was officially inaugurated during the 5th Leaders’ Summit between China and Central and Eastern European Countries held on November 2016 in Riga, Latvia. The Fund adheres to the principle of “government support,commercial operation, and market orientation”, and will build partnerships with governments, enterprises, and financial institutions to promote capacity cooperation and industrial cooperation between China and CEE countries.
Among the CEE countries, Hungary has attracted the largest amount of investments from China. The subscription by Hungarian Eximbank on behalf of Hungarian government to SINO-CEE Fund is a major step forward taken by Hungary in response to the call for enhanced cooperation between China and CEE countries.
SINO-CEE Fund is actively pushing forward the investment cooperation between China and CEE countries, and its investments into Hungary are expected to exceed 300 million euros.