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The Hungarian National Bank launched the RMB project

The Hungarian National Bank recently announced the launch of “the Central Bank of RMB project”. The Hungarian National Bank issued a communique pointed out that the National Bank’s goal is to establish infrastructure finance, foreign exchange and capital market through this project, the development of settlement systems, at the same time, China’s capital market license to start negotiations.
The communique said, RMB internationalization is a priority target China economic policy, by many foreign governments and central banks support. The Hungarian National Bank has begun to expand the financial infrastructure and institutional system in the framework of the “Central Bank of RMB project”, which will help to make full use of the advantages of the internationalization of RMB produced.
The statement said, the National Bank this year will start with the “Central Bank of RMB project” related to the “Budapest yuan initiative”, to expand the scope of investment and financing channels of hungary.
Bulletin pointed out that, China has become the most important trade partner in eu. The transformation of savings to investment and financing structure China provide financing opportunities for the members of the European union. Play a special role in Hungary relationship with China in central and Eastern Europe, Hungary’s central bank is so far the only local district signed currency swap agreements with the people’s Bank of China central bank, at the same time China in the local area only a commercial bank also built in Hungary, Hungary is one of the most important goals of China China flow of capital and immigrant local district.

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