STORY: Hungary, China vow to deepen cooperation on green finance
SHOOTING TIME: Sept. 23, 2024
DATELINE: Sept. 24, 2024
LENGTH: 00:01:35
LOCATION: Budapest
CATEGORY: ECONOMY

SHOTLIST:
1. SOUNDBITE 1 (English): BARNABAS VIRAG, Deputy governor of National Bank of Hungary
2. SOUNDBITE 2 (Chinese): YANG CHAO, Minister counselor of the Chinese Embassy in Hungary
3. SOUNDBITE 3 (Chinese): LIN JINGZHEN, Executive director and vice president of the Bank of China
4. various of the conference

STORYLINE:

Hungary and China have agreed to strengthen financial cooperation and promote green finance at the Budapest Renminbi (RMB) Initiative Conference 2024 here on Monday.
   
At the conference, co-hosted by the National Bank of Hungary (MNB) and the Bank of China, Barnabas Virag, deputy governor of MNB highlighted the importance of the initiative in fostering Hungary-China relations and supporting sustainable investments.
   
SOUNDBITE 1 (English): BARNABAS VIRAG, Deputy governor of National Bank of Hungary
"The Budapest Renminbi Initiative, launched in 2015, has been instrumental measure for deepening financial and economic ties with China. Today we gathered to explore new frontiers in Sino-Hungarian cooperation. Our focus is on two central themes that could shape the future of our economies, internalization of RMB and the vital role of green finance. As the BRI (Belt and Road Initiative) evolves, its potential to promote sustainable future-proof investment is becoming increasingly clear. By aligning BRI projects with green finance principles, we can ensure that economic growth driven by the initiative is both inclusive and responsible."

The BRI, which Hungary joined in 2015, has bolstered infrastructure projects and increased trade between the two countries, said Virag at the conference, which is also part of celebrations marking the 75th anniversary of diplomatic relations between the two nations.
   
Yang Chao, minister counselor of the Chinese Embassy in Hungary, said the conference is a significant step toward expanding RMB cooperation and promoting green finance.
   
SOUNDBITE 2 (Chinese): YANG CHAO, Minister counselor of the Chinese Embassy in Hungary
"It is hoped that the financial sectors of the two countries will seize the opportunity, work together, and continuously expand the breadth and depth of RMB cooperation."

The first half of 2024 saw robust growth in cross-border RMB settlements between China and Hungary. The Bank of China processed a total of 26.4 billion yuan in settlements through its domestic and Hungarian branches.
   
Lin Jingzhen, executive director and vice president of the Bank of China, said that after more than a decade of development, the global influence of the RMB has continued to expand.

SOUNDBITE 3 (Chinese): LIN JINGZHEN, Executive director and vice president of the Bank of China
"The Bank of China will continue to improve its green financial products and services, fully supporting Hungary and Central and Eastern European customers in implementing green strategies."

Xinhua News Agency correspondents reporting from Budapest.
(XHTV)