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Investments in Europe

Hungary is located in the center of Europe, at an extremely important geographic location. Joining the EU in 2004 meant integrating into a market with the population of 520 million. The GDP per capita in Hungary was 15,300 USD in 2008, ranking as a medium developed country. Labor, capital, products and services can flow freely within the EU, providing easy reach for foreign companies settled in Hungary to the whole of the surrounding EU market.  At present Hungary has nearly 5,000 Chinese firms and trading companies mostly in the textiles, clothing, shoes, hats and bags business, plus hundreds of Chinese buffets and restaurants.

Hisense, the world’s seventh-largest TV maker invested 250 million Yuan in Sárvár, Hungary, building up a factory producing LCD and plasma TVs. In addition to the three companies above, other large Chinese enterprises were amongst the first group of investors here, such as: TCL, Skyworth, Amoi, ZTE, Huawei, Lenovo, BYD, East Software and so on. TLC, Skyworth, Amoi and others mostly follow the same pattern in business: produce in Hungary, sell in the EU.

With the entry of these large enterprises Chinese-Hungarian trade has entered a new stage of development. Clothing and footwear is no longer China’s major export product in Hungary; instead electronic products and components, office equipments, biological products and other high-tech products make up the bulk.

Hungarian Ambassador Sándor Kusai said: “The biggest advantage for Chinese enterprises investing in Hungary is that through Hungary they can get to the entire European market, they can find customers for their products and they can shorten the time of business dealings.”

Just one more example of the many just for how correctly Ambassador Kusai sees the situation:

The China Green Biodegradable Products Co., Ltd. invested nearly 18 million Euros in Hungary between 2007 and 2009. Their projects in the region created more than 800 jobs; their annual output is about 50,000 tons, their products reaching the whole European market.

中国总理温家宝 2011年6月访问 匈牙利