Szijjarto: Hungary-China economic ties progressing despite pandemic

Economic relations between Hungary and China are continuing to progress steadily despite the coronavirus pandemic, Peter Szijjarto, the foreign affairs and trade minister, said after announcing an investment by Hungarian chemicals company BorsodChem, owned by China's Wanhua group, on Thursday. BorsodChem is investing 12 billion forints (EUR 33.2m) at is base in Kazincbarcika, in north-eastern Hungary, saving some 3,000 jobs in the area, Szijjarto said. The company is expanding its annual manufacturing capacity of 200 kilotonnes by 90 kilotonnes, he added. Szijjarto praised BorsodChem as "one of the Hungarian economy's most important businesses", saying it had become a leader in both the domestic and European chemical sector. The company has retained all of its employees during the pandemic and has even been able to increase headcount, he added.