rki.news | Source: Xinhua
BUDAPEST, November 13 – The Chinese renminbi (RMB) is creating financing opportunities for businesses trading between China and Central and Eastern Europe (CEE), participants said at the 10th Budapest Renminbi Initiative Conference.
Jointly organised by Hungary’s central bank and Bank of China CEE Ltd., the conference discussed the RMB’s role in the international financial system.
Hungarian central bank Governor Mihaly Varga said the global financial system was becoming more multipolar. He noted that cross-border RMB transactions reached 70.6 trillion yuan (10.57 trillion US dollars) in 2025, up 10.1 percent year-on-year.
Deputy Governor Daniel Palotai said Hungary aimed to become a bridge between Eastern and Western markets by promoting RMB use.
Chinese Ambassador to Hungary Gong Tao said Chinese investment projects in Hungary exceeded 26 billion euros, creating more than 30,000 jobs.
OTP Bank Deputy CEO Laszlo Bencsik said RMB financing helped diversify funding and reduce currency risks.
Chinese officials highlighted growing RMB use in trade, investment and international payments, alongside China’s efforts to open its financial markets further.
Budapest Conference Highlights Growing Role of China’s Renminbi
