Hungary has become the latest eastern European country to sell debt on the Chinese mainland, raising Rmb1bn in a three-year bond, as the government in Budapest seeks to expand its investor base and strengthen ties with Beijing.
The sale makes Hungary the first country to have sold debt denominated in the Chinese currency onshore as well as offshore, according to György Barcza, chief executive of Hungary’s Government Debt Management Agency.
While Hungary’s economy is benefiting from the improvement in eurozone growth, the country is also looking to develop economic links to China.
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