Minister of the National Economy Márton Nagy highlighted the importance of China as a significant economic partner for Hungary during the ceremonial release of the Dragon Year stamp series by Hungarian Post in Budapest on Thursday.
The Hungarian Post issued its eleventh stamp series featuring motifs from the Chinese horoscope, celebrating the upcoming Year of the Dragon, which commences on 10 February. The Minister expressed optimism that the upcoming period would be even more successful than the preceding year, emphasizing that the stamp series facilitates cultural understanding between the two nations.
‘The goal for Hungary remains to be the meeting point of Eastern and Western economies and technologies,
capitalizing on its favourable geographical location,’
the minister said, praising Hungary’s Opening to the East policy initiated in 2010. He noted that the proportion of direct investments from Eastern countries in Hungary was 18.8 per cent in 2014, which has now risen to 34 per cent.
Nagy underscored the global shift in world economy towards Asia, highlighting China’s increasingly significant role. He pointed out that China is Hungary’s ninth most important trading partner, contributing over four per cent to the total Hungarian foreign trade, and has become the country’s largest trading partner outside of Europe. The Minister stated that Hungary hosts 380 Chinese companies employing 16,000 people, and in 2023, China brought the highest foreign capital among all foreign investors in the country.
Nagy affirmed that Hungary is currently China’s most important investment partner in Central and Eastern Europe.
Under the One Belt, One Road initiative, approximately 890 billion euros have flowed into the world since 2013, with around 40 billion euros reaching the Central and Eastern European regions. Hungary ranks second in the region, with 3.9 billion euros, primarily attributable to the Budapest–Belgrade project.
Chinese Ambassador to Hungary Gong Tao remarked that 2024 is the Year of the Dragon according to the Chinese calendar, symbolizing luck, strength, and wisdom. He outlined his government’s goals for 2024, focusing on deepening collaboration under the Belt and Road Initiative, as well as promoting local government relations and cultural exchanges.
President and CEO of the Hungarian Post Balázs Balczó revealed that the stamp, designed by graphic artist Katalin Bódi, will be released in 20,000 copies.
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Sources: Hungarian Conservative/NGM/MTI
