Minister of National Development and Government Commissioner for Hungarian-Chinese Economic Relations Tamás Fellegi regarded the intensive discussions closed on Thursday in China as highly positive and successful. Mr Fellegi pointed out: their negotiating parties agreed that in addition to improving the quality of trade relations, the creation of a new type of long-term strategic co-operation between the two countries was of outstanding significance.

The negotiations clearly confirmed that both parties were committed to the expansion, intensification and development of bilateral relations, said Tamás Fellegi. He stressed that it was the parties’ mutual endeavour to have the Hungarian technology appear in China in addition to large Chinese companies coming to Hungary. In the delegation leader’s opinion, the fruitful talks have created a firm basis for closing the intergovernmental joint committee meeting envisaged to take place in Hungary in the second half of May 2011 with additional palpable results.

During the talks conducted by Tamás Fellegi in China on investments, issues related to capital project financing were also touched. The Minister expounded that long-term co-operation raised the opportunity of project financing through money market instruments, say for instance bonds issue, over time, after the Chinese capital market would have opened. Such instruments could be opened by the Hungarian Development Bank rather than the state.

Tamás Fellegi had government-level talks in Beijing, Hong Kong, Shenzhen and Chongqing with the top executives of the Chinese Ministry of Commerce, Foreign Ministry, Ministry of Railways, Ministry of Transport, the Civil Aviation Administration of China, the Bank of China and numerous large companies, including Huawei, Hainan and Wanhua.

In Beijing, he met, among many others, State Councillor Dai Bingguo, the highest ranking foreign policy officer in the Chinese Government. They agreed that it was worth making progress in the elaboration of co-operation in fields related to finances, infrastructure and transport. He also had talks with the executives of the giant Chinese state railway company, China Railway Construction Corporation (CRCC). President and CEO of the Hungarian Railways (MÁV Zrt.), Ferenc Szarvas signed a strategic co-operation agreement with the leader of CRCC.

In Chongqing Mr. Fellegi opened the new offices of the local Hungarian consulate general to create the conditions of visa issues in compliance with the Schengen criteria. The Minister explained that mutually beneficial business co-operations and investment projects are expected in the wake of easier visa issues between Hungary and Chongqing the entire inner China region. Mr Fellegi and his negotiating partner discussed the areas - in addition to the organisation of business fore and launching direct flight - in which economic and trade relations could be improved. The idea of a cargo and logistics centre to create jobs in Hungary and boosting the export of Hungarian waste water treatment and energy efficiency improving technologies were also raised.

The Hungarian delegation included Deputy CEO of the Hungarian Development Bank, Zoltán Urbán; General Manager of the Hungarian State Debt Management Centre, Gyula Pleischinger, General Manager of the Hungarian Railways, Ferenc Szarvas, and leader of the Office of the Government Commissioner for Hungarian-Chinese economic relations, Dániel Mendelényi.

(Ministry of National Development , Department of Communication)