China Construction Bank opens branch in Hungary

BUDAPEST, April 19 (Xinhua) -- China Construction Bank (CCB), the world's second-largest bank based on assets, opened a branch in Hungary on Wednesday.

At an opening ceremony held in the capital city Budapest, CCB Chairman Tian Guoli said the new branch will further encourage financial cooperation between China and Hungary, and provide quality financial services for Chinese and Hungarian enterprises, which includes a fintech lab to promote financial-technological innovations.

Hungarian Minister of Economy Development Marton Nagy lauded the opening of the bank branch, saying that a well-functioning financial system and banks are crucial to economic growth.

Expressing gratitude to CCB for assisting Hungary during the COVID pandemic, he emphasized the importance of constantly exploring opportunities in economic and trade cooperation to promote development for both parties.

Yang Chao, Charge d'affaires ad interim of the Chinese Embassy in Hungary, said the new branch will help expand practical cooperation between the two countries and provides a new channel for innovative cooperation.

He said he hopes that the financial institutions of both countries can strengthen exchanges and cooperation, complement each other's advantages, and inject new impetus into the Belt and Road cooperation between the two countries.