China could play a crucial role in the modernisation of Central Europe's infrastructure, Prime Minister Viktor Orbán said in his lecture held at Beijing's Academy of Social Sciences.

The Prime Minister argued that the Central European region’s infrastructure is “not completed”, with important links missing in the North-South direction, or a lack of modern railway connection between Budapest and Warsaw.

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Since the European Union will earmark much less for Central European infrastructural development in its next seven-year budget, China has the opportunity to get involved in such modernising projects.

In his address, the Prime Minister called for new strategies to regain Europe’s competitiveness. He said it was important to stabilise the European currency, and urged deeper integration between Eurozone member states, to this end, he proposed the introduction of a banking and budgetary union.

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He also stressed that the region regarded the crisis as an opportunity, in light of which Hungary started to seek reforms in 2010, which now resulted in a growing economy, reduced state debt, a public finance deficit below 3 percent, the introduction of a flat tax system and record high employment. He said if Hungary succeeds that will also strengthen Europe.

He also referred to Hungary's good geographical position, its skilled workforce and governmental achievements, and said that if the government can further reduce taxes and ensure the cheapest energy in Europe, the country could have one of the most competitive economies on the continent.

(Prime Minister's Office)