Hungarian tour aiming to attract business from China continues

Budapest - HungaryThe second section of a tour of China designed to persuade investors from the economic superpower to put their money into Hungary got underway on Monday, the Hungarian Investment and Trade Development Agency said.

The "Hungarian Season" tour, which has already visited Beijing, will stop in the provincial cities of Lanzhou, Chengdu and Qingdao over the next five days, the agency said.

Hungary is attempting to position itself as a gateway for Chinese products hitting the European markets, and last year signed a contract on a major centre in Budapest aimed at facilitating this.

The China Brand Trade Centre - based in and around the existing Asia Centre and China Mart in northeast Budapest - aims to provide office space for up to 2,000 Chinese firms looking to gain a foothold in Europe.

Around 200 companies have set up shop there, and the centre is expected to be expanded to 200,000 square metres by around 2010.

According to Hungary's statistical office, last year saw some 3.75 billion euros (5.89 billion dollars) in Chinese imports to Hungary, 21.6 per cent up on 2006. (dpa)