Sino-Hungarian investment funds coming

Hungary will deepen cooperation with China in the financial sector by jointly establishing more investment funds, said its minister of foreign affairs and trade.

Peter Szijjarto said Hungary's Export-Import Bank will invest 70 million euros ($76.5 million) in the second phase of the China-Central and Eastern Europe Investment Cooperation Fund, which was initiated by the China Export-Import Bank and established in 2013.

The fund's first phase drew investments of $435 million and went into operation in 2014. The Hungarian Export-Import Bank was one of the investors with an input of $30 million, according to the Budapest Business Journal.