Wuxi participants in the online signing ceremony on Sept 9.[Photo/Wuxi Daily]
An online signing ceremony between Wuxi in East China's Jiangsu province and Hungary was held on Sept 9.
The China-Hungary (Wuxi) High-tech Development Center, one of the projects signed into effect at the ceremony, will rely on the Hungarian Ministry of Innovation and Technology and the Óbuda University in Hungary to establish a transnational innovation research mechanism in a bid to help enterprises from both Wuxi and Hungary cooperate in aircraft manufacturing, electronics, mechanical engineering, and energy.
Hungarian participants in the online signing ceremony on Sept 9.[Photo/Wuxi Daily]
Huishan district, Hungary-based Magnus Aircraft, and Óbuda University signed a joint declaration the same day on the construction of Magnus's aircraft sales center in Wuxi as well as the Asia Pacific Headquarters and aircraft assembly and carbon fiber composite material production base in Huishan.
Magnus plans to invest 175 million euros ($25.29 million) to build a production base in Huishan, which is expected to generate 3.2 billion yuan ($462.33 million) in output per year.
In recent years, Wuxi and Hungary have seen closer cooperation in scientific innovation, modern industries, and cultural exchange. The two projects will further deepen the cooperation between Wuxi and Hungary in industrial development, technological research and integrated innovation.
