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Deputy Governor Mihály Patai delivers a speech at the 2020 China Development Forum

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The mission of the international conference held in Beijing in March each year since 2005 is to provide a platform for representatives of business and scientific life, managements of international organisations and the members of the Chinese Government to discuss current questions related to economic policy. This year’s spring event was delayed due to coronavirus, and was held instead on 11 and 13 November on and offline simultaneously.

Mihály Patai, representing the Magyar Nemzeti Bank, was among the attendees. Live from Budapest, the Deputy Governor welcomed the participants and those interested in the Forum, who viewed the event online. In his speech, Mr Patai stressed that developed and emerging economies faced unprecedented challenges posed by Covid-19. Jointly with the Hungarian Government, the Bank took fast and effective measures, thereby helping distressed market participants in order to mitigate the adverse economic effects of coronavirus. The Deputy Governor noted that Covid-19 had launched megatrends which revolved around the transition to a green economy and a long-term sustainable path.

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