shine trader limited reports:
The Hungarian government said that the Hungarian branch of Fudan University in Hungary can help Hungary attract new R & D centers and new investment. Hungary is a central European country with a population of 10 million. The country relies heavily on foreign investment to promote economic growth.
On Tuesday, the Hungarian Parliament voted overwhelmingly to donate four plots of land along the Danube River to the foundation responsible for planning the campus of Shanghai Fudan University. The law stipulates that the government must submit the final plan of the project, including its cost, to Parliament at the end of 2022, after the next election in April.
On April 27, 2021, Fudan University and the Hungarian government officially signed an online strategic cooperation agreement to jointly build the Hungarian campus of Fudan University in Budapest, with an estimated cost of 1.5 billion euros (11.741 billion yuan). One belt, one road, China’s National Development Bank offers 1 billion 300 million euro concession loan, while Hungary specifies that China Construction Group will undertake the project exclusively. The project is expected to be completed in 2024.
According to Hungarian media, the cost of Fudan University in Hungary is more than the total expenditure of higher education in Hungary in 2019 (1.3 billion euros), and this will have a significant impact on the development of higher education in Hungary.
It is reported that Fudan University ranks 70th in the world university ranking of “Thames higher education” in 2021. Budapest campus of Fudan University is the first Chinese University Campus established in the EU.
At the end of 2020, Hungary signed a preliminary agreement to allow Fudan University in Shanghai, China to set up a branch in Budapest, the capital of Hungary. The Viktor Orban government now says it plans to provide financial assistance to Fudan campus. The government has reserved 821 million Hungarian Forint (about 18 million yuan) from the 2021 budget for campus related investment.