工业化新动能和中匈合作新面貌：中国在匈牙利的境外投资

NewdriversofindustrializationandnovelaspectsofHungarian-ChinesebilateralcooperationChineseforeigninvestmentsinHungaryAziparosodásújhajtóerőiésamagyar-kínaikétoldalúegyüttműködésújszerűvonatkozásaiKínaibefektetésekMagyarországonWorldandRegionalEconomics,FacultyofEconomics,UniversityofMiskolc;H-3515ABSTRACT:Anumberofforeign,partlyEastAsianproducershavemadeinvestmentshaveMiskolcagglomerationhasincreased.Chineseinterestshavebeenconcentratedinthedominant,export-orientedbranchesoftheregionaleconomy.Thecompanies(namely,Wanhua-BorsodChem,TenPao,SEG-A,JOYSON,andChervonAuto)compriseakeyandintroduced,whilelatertherelatedpoliticalmeasuresandinitiativesaredescribed.PresentinganunderstandingoftheHungariangovernment’sreaction(theso-calledNewForeignEconomicStrategy)ispartoftheirsthalfofthepaper.eldgiaévtizedbenMiskolconfelértékelődöttakínaibefektetésekjelentőségeéssúlya.Bárakínaiérdekekkülönféleformábanjelentekmegatérségben,közösjellemzőjük,hogyahelyigazdaságmeghatáro‐zó,exportorientáltágazataiterősítik.Avállalatok(Wanhua-BorsodChem,TenPao,SEG-A,JOYSON,ChervonAuto)amagyar-kínaikétoldalúkapcsolatokkulcsfontosságúcsoportjátalkotják.Kínát,azdsekskezdemnyezsekismertetéseköveti,ebbőlkövetkezőenamagyarkormányzatireakció(Újkülgazdaságistratégia)leírásaisamunkaelsőfelénekrészétalkotja.Arepülőlúdrajmodellkínáljaaszintetizálótanulmányfogalmikeretét.Alegfontosabbku‐rillnaktartjktanulságokat.Azazonosított–pénzügyiésjogiformájukattekintvesokféle–kínaibefektetésekatérségjelentősmunkaadóináléstermelőinéljelentkeztek.Aberuházásokugyanfelgyorsítottákavonjonleazázsiaianyavállalatokműködésihátteréről,főtevékenységeirőléstörténetéről.Akutatásérdemesafolytatásraavállalkozásokfejlesztésénekésbeágyazódásánaktámogatásaérdekében.EzatupThecommonfeatureofthesecompanieswithAsianinterests(fromJapan,China,andSingapore)isthattheyoperateinthedominantlyexport-orientedThearticleo任ersareviewoftheChinesedevelopmentsandHungarian-Chineserelationswithspecialattentiontothesecondarysector(especiallymanufacturing).Thearticleaimstoanswerthefollowingresearchquestions:1)DidChineseeconomicdevelopmentfollowtheEastAsianmodel?Whatwasthenational,andassessedinanEastAsiancontext.TheFlyingGeese(FG)paradigmistheconceptualframeoftheoverview.TheHungarianpoliticalreaction(theso-called‘OpeningtotheEast’)andthecaseofChineseinvestorsfromBAZcountyareforSustainableDevelopment(AGENDA2030)andtheassociated17SustainableDevelopmentGoals(SDGs),validuntiltheyearof2030.Theninthgoal(SDG9)drawsattentiontotheimportanceofindustryandindustryexceedsaquarterofglobalGDP;andthattheproportionofpeopleinbothdevelopedanddevelopingcountriesemphasizesthatthesecondarydevelopment.inluentialindustrialregionsofthetwentiethcentury(WesternandCentralEurope,NorthAmerica),therehasbeenaspectacularadvanceinEastAsia.TheriseofEastAsiacanbeexplainedmainlybytheindustrializationofChina,whichFigure1.:ValueaddedofTOP5globalmanufacturers,2004-2020(billionUSD)Avilágötlegnagyobbfeldolgozóiparitermelőjénekhozzáadottértéke,2004-2020(mrdUSD)S0ChinaEUJapanKoreaUSAThisirstexperienceandsuccesswasenrichedlaterbytheNewlyIndustrializedconvergenceandglobalintegrationisadevelopment-supportingstatethatandinnovation.Thegovernment’sinterventionandallocationmechanismsforeignimportgoodsandserviceswithdomesticones;later,export‐orientedTheoriginalconceptoftheappliedeconomicdevelopmentmodelwasdescribedbyAkamatsufromJapaninthemid-1930s(Schröppel,Mariko2002).IthefunctionsthatdescribeinverseV-shapes.Thesimplemodelusesthreefunctionstodescribetheinteractionoffactors(exports,imports,production)overtimeforaselectedindustryandproduct(intraindustrialaspect).Itwasirstdevelopedforthewoollenindustry(Kumagai2008),whileotherindustries(branches)wereFigure2.:Functionsoftheoriginal‘FlyingGeese’modelodellfggvnyeicriticized.Recognizingtheimportanceoftechnologicaldevelopment,KojimapoliciesoftherespectiveAsiancountrieshave,overtime,targetedhighervalue-added(electronics,telecommunication,automotive,etc.)activitiesratherthanthoseoflowervalue-addedproduction(steel,chemicals,others).begins.Japanwastheirst,beingfollowedbytheNIEsinthesecondtier,thenbydglobalimpactThisuniquenessoftheChinesepathisemphasizedbyNaughton(2021),whoputsitthisway:especiallyintheearlystagesofopening-up(1970s),extensivegovernmentthemillennium,thedevelopmentshowsChinesecharacteristicsaccordingtoitsOtherauthorsdisputethatChinafullyfollowstheso-called‘East-AsianelikelytoevolvedierentlyLeeHahnLinacompetitivedomesticmarketrepresentthemostsigniicantalterations.varietyofreasons.NotonlyhasChina’smanufacturingindustryundergonespectacularevolutioninrecentdecades,butsohavetherelatedpolicies(Polonyi1994).However,thegoalhasremainedessentiallyunchanged:Chinashouldbendresultsthatwerepreviouslyachievedbythecountriesoftheregion(Japan,KoreaandotherNIEs).Thereignproductiondemandadvancedknowledgeandduetothreefactors:itsjob-creatingcapacity,itsroleingeneratingtechnologyeguidedbytheSovietmodelandtechnologies,beganinlinewithCommunistideology(Xue1986).Politicaldecisionswereinluencedbyrestraintsandthethreatofopenconlictandwarsinneighbouringcountries(KoreaandVietnam).Thedevelopmentofaspatiallyandsectorallydiversiiedindustryhasbeenslowintheshadowofshocks,disasters,andcrises.Determinedbytheuniquedomesticandforeignpolicysituation,autarchy(self-su伍ciency)wasforcingnewpolicybasedonthenewprincipleof‘ReformandOpening-technologiesuntil2020.Althoughtheprogramdidnothaveadirectindustrialinnovationcapacity,therewasadesiretogiveagreaterroletostate-ownedenterprises(SOEs),which,incooperationwithuniversitiesandtechnologyparks,liberalization,privatization,andreorganization,SOEshavemaintainedtheirimportantrole(ca.50%)andweightintermsofindustrialaddedvalue,despitethedeclineintheshareofemploymenttheyaccountfor(ca.25%).TheextenttheWesternsense.Statecontrol,regulation,andcoordinationinlabour-intensivelightindustry(manufactureoftextiles,footwear,toys,householdappliances)hasbeenlessthaninthetechnology-intensive,strategicsectors.Companiesoperatinginkeyareas(mining,energy,engineering,IT)weresubjecttospecialregulationsDefraigne2014).t1990sonwards,therewasagradualchangeinthehierarchyofgoals,whichpute伍ciency(i.e.,e伍cientoperations)atthetopofthehierarchy.In1997,thedirectedtolargecorporationsandthatsmallerorine伍cientonesweretobeclosedorsold(privatized).Therehasbeenstrongdi任erentiationbetweenlowlevelofproitability;limitedinnovationcapacity;limitedmanageriallackofinternationallyknownandrecognizedcompaniesandtheirproductsmainlySOEs,resultingin40-50companiesthatareabletooperateunderglobalcyduetowhichfactorsandchangeswecantalkaboutaparadigmshift:thishasincludedChina’smembershipintheWTO(2001);China’sreachingadominantpositionontheglobalindustrialmarket(since2010);aseriesofcrises(inancialimbalances-2008,thecoronaviruspandemic-2019)–allthesetheuseandactivationofdomesticfactors,aswellastodeiningkeycompanies(e.g.,petrochemicals,machinery,automotive,etc.).Inlinewiththis,ithasandcommunicationtechnologiesintomostareasofindustryhasbeenofkeypriorityformaintainingChinese-styleindustrialization(Li,Pu2014).Thetoshapeindustrialpolicy(Weber2021),aswellastheneedtoincreasethemoveintothehigh-endcategoryandtakeupamoreadvantageouspositioninprojectstodevelophumanresources,acquirethenecessaryassets,establishsupportivecorporategovernance,andevensupportmarketoperations(acquisitionsandmergers).Theprogramhascontributedtotheweakbutincreasingtrendtooutlowofcapitalfromthecountryforinvestmentpurposes(directcapital;OutwardDirectInvestment[ODI]).TheprogramalsosoughtinvestmentareasoferecognitionofChinesecompaniesandtheirbrands,globally.ndecade,isnowmorethanavision;itisareality.Completedorongoingprojectsobeeningknowledge-enhancing,e伍ciency-enhancing,andcooperation-enhancing(Csizma‐ysituationofthetwoparties.Itisundeniablethatthelastdecadehasbeenoneofthemostsuccessfulperiodsforbilateralrelations(Péti2017).Inthisandtheeconomicsarepresented,withspecialattentiontoindustrialinvestmentintodseveralinstitutionsaswellasfunctions,whicharemainlyclusteredinBudapestandCentralHungary(theclearingcentreoftheBankofChina,theregionalo伍ceoftheChinaTourismBureau,etc.).deicit.Asiaattracts8-10percentofallHungarianexports,ledbythetwoEurasiancountries(RussiaandTurkey)andfollowedbythreeEastAsianones(China,Japan,andSouthKorea).Russian,Turkish,andChineseexportvolumerelatedimportsaccountforalmostdoublethatofexportsbothinvalueandvolume(18-20%).ChinaandRussiaaretheoutstandingimportpartnersforthecountry(thejointvolumeofimportsofthetwoismorethantenbillionUSD).ocumulatedstockofFDIinwardinvestmentfromAsiaintoHungarywasworthmorethantenbillionUSDin2018(Szunomár2020).JapanandChinahadroughlythesameshareofthetotal(one-thirdeach).finwardFDIstockfromAsia(Gubik,Sass,Szunomár2020).ThoseAsianmanufacturinginvestments(especiallythelastdecade,thusthecountry’sexportscertainlyremainEU-dependentaccountforalargershareofthetotal,althoughtheirweightintheoverallBorsod-Abaúj-ZemplénisoneofthenineteencountiesofHungary(Budapestexcluded),locatedinNorthHungary,borderedbySlovakiatothenorth.AmongtheNUTS3-levelterritorialunits(calledcounties)ofHungary,BAZisrankedcsituation,thecountywasparticularlyexposedtothecollapseofthesocialisteconomicsystemandcoordinationandlatershocks(inancial,pandemic)reofregionalindustrytheunfavourableegionTable1.:MainstatisticsforBorsod-Abaúj-Zempléncounty(2011/2015/2020)Borsod-Abaúj-Zemplénmegyefőbbadatai(2011/2015/2020)ingtoahigherlevelofoutput,althoughthenewproductionstructurehasgreaterwereassociatedwithamassiveconcentrationofproductionbothinspaceandsector(Kuttor2011).Nowadays,threemicroregions(Miskolc,Kazincbarcika,Tiszaújváros)andtwobranches(chemicalandmachineproduction)accountforaccordingtototalindustrialoutputaftertheWesterncountryofGyőr-Moson-Sopron,andthecentrallylocatedPest(seeTable2)(KSH).Thisimprovedpositionisthankstotheattractionofnew,signiicantlyAsianinvestment(Kuttor,Hegyi-Kéri2017).TheappearanceofAsiaintheregionwasnotnew,asShinwaLtd.(asecond-levelautomotivesupplier)hasbeenoperatinginMiskolcsince1998,andtheChinesecapitalrepresentedpectsItdiersfromtheotherspartlyduetothevolumeoftheinancialtransactions,andpartlyduetoitschronology(early2010s)anditssectorala伍liation(productionofchemicalrawmaterials).TheBorsodChemicalPlant(BorsodiVegyiKombinát,BVK),establishedinTable2.:MainstatisticsoflargestcompaniesinBorsod-Abaúj-ZemplénwithaChineseinterest-anhuaisoneoftheworldslargestproducersofmethylenediphenyldiisocyanate(MDI)andoneofEurope’sleadingsuppliersoftoluenediisocyanate(TDI).ThecompanyoperatesiniveotherimportantlocationswithinChina(Beijing,Shanghai,Chengdu,Macao,andNingbo).IthasbeeninAccordingtoinancialdatafor2021,itssalesexceeded10billionUSdollarsninvolvestheestablishmentofthreenewproductionplants.Inaddition,theproductionofHPM(HighPerformanceMaterial),athermoplasticpolyurethaneplastic(amoreprocessedversionofMDI),willcontinuetobeusedtoproduceadevelopedinrecentyearsbetweenBorsod-Abaúj-ZemplénCountyandtheeairbagsandairbagsystems(completeairbagmodules,airbagcomponents,andinlatorproducts).Productionquicklypickedupandtheemploymentofrecalledworldwideduetodefectiveairbags.ThiscrisisputthenewinvestorinadJapan’sTakatasoonoccurred,accordingtowhichtheformerundertooktobuycarriedout,givingaccesstobothKSSandTakata.ThecompanymanufacturesandestablishedcompanywithsigniicantcapacityintheMiskolcarea.Thecompany,automotiveknowledgeandinnovation,fromcreatingstarters,generators,andstartstopsystemstonewhybridsolutions.Asakeyplayer(at16sites),SEG-eOvertime,StartersE-ComponentsGeneratorsAutomotiveHungarymovedfromMiskolctoSzirmabesenyő(asuburbofMiskolc).Production,whichhasbeenrelocatedtoamodern,smartfacility(withthelargestproductioncapacityftynsformersWithinadecadeparallelwiththisgeographicalexpansion,theproductrangealsoincreased,supplementedbyotherproducts(adapters,chargers,switches,industrialdevices,andotherapplications).Innovationhasalwaysplayedakeyroleinthelifeofthe2015.TenPaowastheirstcompanytoproducehand-toolchargersforEuropeandofelectriccars(batteryhousings,axles,andgears).TheyfocusprimarilyonFigure3.:CentresandlocationsoftheproductionofcompaniesinChinabyprovinceVállalatiközpontokéstelephelyekelhelyezkedéseKínatartományaibanhegovernmentorientationandsubsidies;theroleoftheHungarianPromotionAgency(HIPA);andthepresenceoftheUniversityofMiskolc(withtechnicalineseInstituteadditionallyrenewedandenlargedthecounty’straditionalindustrialcapacitiesFirst,Japanesecompaniesappearedintheregion,thenotherindustrializedInthepresentpapertheauthorhasattemptedtocreatetheconceptualbackgroundforthecorrectinterpretationoftheChinesecompanies’(especiallyodelofexportandinnovationandverifyitsintraandinter-industrialaspects.TheJapanese,Singaporean,andChinesecompaniesdemonstratewidevarietyfromdi任erentperspectives(mainactivity,legalform,size,etc.),butallareproducersintheexport-orientedcompaniescanbeabridgeheadforfurtherAsianinvestment,althoughitissbeneits,theUniversityofMiskolcintendstosupportbilateralcooperationwithfurther(linguistic,engineering,andmanagement)training,programs,andanBaek,S.-W.(2005):DoesChinafollow“theEastAsiandevelopmentmodel”?JournalofContemporaryAsia,4.,485-498./10.1080/00472330580000281dEconomicReviewSpecialIssueJanuary100.BecseyZs.(2014):Akeletinyitássúlyaamagyarkülgazdaságban.PolgáriSzemle,1-2.,428-443.BernekÁ.(2018):Hazánkkeletinyitáspolitikájaésa21.századigeopolitikaistratégiákösszefüggé‐sei.KülügyiSzemle,2.,122-144.Brandt,L.,Ma,D.,Rawski,T.G.(2017):IndustrializationinChina.In:O'Rourke,K.H.,Williamson,J.G.(eds.):TheSpreadofModernIndustrytothePeripherysince1871.OxfordScholarshipDOI:10.1093/acprof:oso/9780198753643.003.0009CsanádiM.,GyurisF.(2018):ÁtalakulópártállamésegyenlőtlentúlfűtöttségKínábanaglobálisvál‐ságidején.TérésTársadalom,1.,50–75./10.17649/TET.32.1.2897CsizmadiaN.(2017):AzÚjSelyemútgeopolitikaijelentősége–aXXI.századiSelyemút.In:PétiM.(szerk.):AzÚjSelyemútGazdaságiÖvezetgeostartégiaiésföldrajzidimenziói.CorvinusPrinting,BCE,Budapest,37-63.Defraigne,J.C.(2014):China’sIndustrialPolicy.EuropeChinaResearchandAdviceNetwork(ECRAN)2010/256-524,2014JuneEszterhai,V.(2018):OneBeltOneRoad:NewInternationalRulesandValues.In:HamarI.,BesenyőJ.(szerk.):Kínaaglobáliskihívásoktükrében=ChinaintheLightofGlobalChallenges.ELTEKonfu‐ciuszIntézet,Budapest,252-265.Gubik,A.,Sass,M.,Szunomár,Á.(2020):AsianForeignDirectInvestmentsintheVisegradCountries:WhatAreTheirMotivationsforComingIndirectly?DANUBE:Law,EconomicsandSocialIssuesReview,3.,239–252.DOI:10.2478/danb-2020-0014Irimescu,L.(2019):Hungary’sEasternOpening:PoliticalandEconomicImpacts.KKISeriesoftheInstituteforForeignA任airsandTrade.PolicyBrief,InstituteforForeignA任airsandTrade,57.Jin,B.(2020):China'sPathofIndustrializationEndeavoursandInclusiveness.SpringerSingaporeKasahara,S.(2013):TheAsianDevelopmentalStateandtheFlyingGeeseParadigm.2013November,InternationalStudies,WashingtonKiss,É.(2016):W-crisisinHungarianindustries:e任ectsandstrategiesfromtheviewpointofenterprises.In:Wilson-Flores,O.(ed.):Economiccrises:riskfactors,managementpracticesandsocialimpacts.NovaSciencePublishers,NewYork,USA,45-81.Kojima,K.(2000):The“lyinggeese”modelofAsianeconomicdevelopment:origin,theoreticalextensions,andregionalpolicyimplications.JournalofAsianEconomics,4.,375-401./10.1016/S1049-0078(00)00067-1Kumagai,S.(2008):AjourneythroughthesecrethistoryoftheFlyingGeeseModel.IDEDiscussionPapers158,InstituteofDevelopingEconomies,JapanExternalTradeOrganization(JETRO)Kuttor,D.,Hegyi-Kéri,Á.(2017):ReasonforandE任ectsoftheDeindustrializationinVisegradCountries.In:Bildirci,M.,Zehir,C.,Kayıkçı,F.Karagöz,M.,Bakırtaş,T.(eds.):Istanbulasaglobalhnancialcenter.CambridgeScholarsPublishing,NewcastleuponTyne,UK,291-306.Kuttor,D.(2011):Spatiale任ectsofindustrialrestructuringintheVisegrádcountries.Theory,Methodology,Practice.Miskolc,51-57.Lee,K.,Hahn,D.,Lin,J.(2002):IsChinaFollowingtheEastAsianModel?A"ComparativeInstitutionalAnalysis"Perspective.ChinaReview,1.TheChineseUniversityofHongKongPress,85-120.DOI:10.1080/00472330580000281Li,J.,Pu,P.(2014):ReconstructingChina.BeijingJinghuaHucaisPrintingLuxG.(2017a):AkülföldiműködőtőkeáltalvezéreltiparfejlődésimodelléshatáraiKözép-Európá‐ban.TérésTársadalom,1.,30–52./10.17649/TET.31.1.2801Lux,G.(2017b):RegionaldevelopmentpathsinCentralandEasternEuropeandthedrivingforcesofrestructuring.In:Lux,G.,Horváth,Gy.(eds.):TheRoutledgeHandbooktoRegionalDevelopmentinCentralandEasternEurope.NewYork(NY),USA,London,UKRoutledge,1-12.Moldicz,Cs.(2017):China’sattraction:theCaseofCentralEurope.Budapest,BudapestBusinessNagy,B.,Lengyel,I.,Udvari,B.(2020):Reindustrializationpatternsinthepost-socialistEUmembers:acomparativestudybetween2000and2017.EuropeanJournalofComparativeEconomics,CattaenoUniversity(LIUC),December,2.,253-275.Naughton,B.(2021):TheRiseofChina’sIndustrialPolicy,1978to2020.UniversidadNacionalAutónomaandForeignDirectInvestmentChannel:EvidencefromAsianNewlyIndustrializedCountries.JournalofEconomicCooperationandDevelopment,2.,125-154.Ozawa,T.(2008):Historyrepeatsitself:Evolutionarystructuralchangeandinvestmentininfrastructureoverseas,hyinggeesestyle.WorkingPaperSeriesNo.261.CenteronJapaneseEconomyandOz