Chinese IT-firms enter Hungary
Huawei Technologies, a Chinese maker of telecommunication network systems, selected Budapest as its regional trade center. Huawei employs 24,000 people worldwide and boasts a yearly turnover of USD 5.5 billion. It also plans to start manufacturing in Hungary in a few years'' time. IT-minister Kálmán Kovács says Huawei''s decision was helped by the fact that the Bank of China has a branch in Hungary and also that Hungary has the largest Chinese community in the region. Other Chinese electronic firms are also showing interest in setting up Hungarian subsidiaries, the minister said. (VG)
