The Hungary-China Economic Forum “Opportunities, Challenges, Reciprocity” was held in Budapest, Hungary in celebration of the 70th anniversary of the establishment of Hungarian-Chinese diplomatic relations on June 18.

Opening the discussions, Prof. Justin Lin Yifu, dean of Institute of New Structural Economics at Peking University and former senior vice president and chief economist of the World Bank, indicated that the Belt and Road Initiative focusing on infrastructure connectivity will help eliminate the bottleneck of economic growth and become a platform for common prosperity in the world, including Eastern European countries such as Hungary.

Taking the China International Import Expo and China (Shanghai) Pilot Free Trade Zone as examples, Prof. Zhang Jun, dean of the School of Economics of Fudan University, described the regional economic development of Shanghai and the integration of the Yangtze River Delta, sharing the wisdom of Shanghai in the context of globalisation.

Hungarian economists including Ugrósdy Márton, Director of the Hungarian Institute of International Affairs and Trade, and Szombati Anikó, Executive Director of National Bank of Hungary, pointed out that economic exchanges between China and Central Eastern Europe, the two new power centres, will continue to expand thanks to positive factors such as the BRI and the “Open to the East” policy.

The forum is also one of the highlights of “Dynamic Shanghai” City Promotional Event in Hungary in 2019. This happening is advised by the Chinese Embassy in Hungary and co-hosted by the Information Office of Shanghai Municipality, National Bank of Hungary and Fudan University, with the participation of Shanghai Museum, Shanghai International Culture Association, School of Economics of Fudan University, the Municipality of Budapest, Pallas Athene Innovation and Geopolitical Foundation and other institutions.

H.E Duan Jielong, Chinese Ambassador to Hungary, took part in the opening ceremony, economic forum and other activities, alongside Matolcsy György, governor of National Bank of Hungary, Magyar Levente, Deputy Minister of Foreign Affairs and Trade and more than 100 guests.

In addition to the forum, the “Dynamic Shanghai” event also includes “The Journey of Coins Hungary and China on the Silk Road,” scheduled from June 18 to August 11, organised by Shanghai Museum and National Bank of Hungary.

It displays a total of 190 coins from the 2nd century BC until now, among which, King Stephen’s Denar and Chinese copper coins. During the exhibition, visitors will have the opportunity to learn about the evolution of coins and the related events in terms of economy, art, culture, history and finance digitisation.

There is also a Dynamic Shanghai Exhibition during this period, showcasing a variety of cultural creative products from Shanghai Museum to Hungarian visitors.

Besides, the “Dynamic Shanghai” Photo Exhibition, scheduled from June 18 to 25 offers a selection of 60 pictures reflecting the latest urban images of Shanghai and the friendly relationship between Hungary and China.