China’s Wanhua Group implemented comprehensive rectifications after its acquisition of BorsodChem, making it successfully overcome the aftermath of the economic crisis and turn around in 2014. The BorsodChem Plant, covering an area of 4.5 square kilometers and with more than 3,000 employees, produces basic plastic raw materials for various products including automobiles. In the context of oligopoly in the global chemical industry, Wanhua Group's successful acquisition in Hungary has further enhanced its presence in the world's chemical industry. Wanhua Group established the largest chemical park in Hungary on the basis of BorsodChem. In 2014, the BorsodChem Industrial Park was officially renamed as China-Hungary BorsodChem Economic and Trade Cooperation Zone. In 2016, approved by the Ministry of Commerce and the Ministry of Finance of the PRC, the park was promoted to the national-level overseas economic and trade cooperation zone.