he economy. In 2012 and 2013 the inflation rate was 2.6%,below the 4% inflation target, which contributed to the easing of the monetary policy.Having nearly 1.4 billion inhabitants makes China the world's most populous country. Itis typically classified as an industrial country, which is strengthened by the cheap labour and theartificially undervalued Chinese currency (yuan). In a connection with this for many years asignificant amount of capital is flowing into China. At the end of 2012 the invested capitalreached nearly 833 billion USD. At the same time – especially state-founded – Chinesecompanies were also investing more significantly abroad. As for the structure of the economy,the combined share of agriculture, industry and construction industry (10% and 44% in 2013) ishigher; the service sector’s is (46% in 2013) lower than the average of these in the developedcountries. Over the past 10 years the unemployment rate was between 4.0-4.5%; in 2013 it was4.1%.
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2.2. China in 2016
The International Monetary Fund (IMF) forecasted that China’s economy in 2016 isgoing to reach 12,300 billion USD. According to the IMF the dynamics of economic growth isgoing to decrease from 6.9% in 2015 to 6.3% in 2016, which is expected to be less favourablethan the 6.8 % forecasted by the Chinese Central Bank. The Chinese economy continues to keepits place as the second strongest national economy in the world, and it is trying to close up with the US economy (in 2015 63.3%, in 2016 65.6%), but in a decreasing way, compared to the pastthree decades. Measured by purchasing power parity (PPP), China's economy is the world'slargest and according to the calculations of the IMF by 2016 it will reach more than 21,000billion USD, which is more than 112% of the total US economy.China remains one of the fastest growing economy (only expected to preceded by India in2016 with its GDP growth rate of 7.6%) and the main contributor to global economic growth inthe world. The annual production surplus of China is 800-900 billion USD, which in itself meetsthe world's 16thlargest economy, Indonesia’s annual economic output. Particularly interesting isthat China's economy is becoming more dominant in Asia. The three largest national economiesafter China; Japan, India and South Korea’s joint economic performance in 2016 (8,000 billionUSD) is only 65.3% of the total Chinese economy. Compared to other emerging economies ofthe BRICS-group of China is also becoming a leader in terms of the GDP per capita (8,866USD/person), primarily due to the economic problems of the other emerging countries. In termsof GDP per capita China belongs to the upper group of the middle-income countries, and for thefirst time in history, it is ahead of the European Union's poorest member state, Bulgaria.
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CHAPTER 3 – THE CURRENT CONDITIONS OF THE ECONOMICSITUATION IN HUNGARY ....23
3.1. Hungary’s Economic Policy Goals .......23
3.2. Hungary’s External Economy Situation..........25
3.3. Forecast about Hungary’s Economy.....26
CHAPTER 4 – THE ECONOMIC AND TRADE RELATIONS BETWEENCHINA AND HUNGARY.........29
4.1. The Past of the Chinese-Hungarian Relations...........29
4.1.1. Chinese-Hungarian Relations 1950-1989............ 29
4.1.2. Chinese-Hungarian Relations after the 1989 Turnout ............. 30
4.2. The Recent Years of the Chinese-Hungarian Relations (2003-2008).....31
4.2.1. The Role of the Hungarian-Chinese Department ........... 34
4.3. The Trade Relations between China and Hungary....35
4.4. Educational and Cultur
