China and Hungary have agreed to elevate their bilateral relationship to an “all-weather comprehensive strategic partnership for the new era,” marking a significant milestone in their 75-year diplomatic history. The announcement was made on May 9 during talks between Chinese President Xi Jinping and Hungarian Prime Minister Viktor Orbán in Beijing.
In a signed article published on May 8 in the Hungarian newspaper Magyar Nemzet, President Xi praised the close relations between the two countries and called for deeper cooperation. “We are ready to work with Hungary to deepen and substantiate China’s cooperation with Central and Eastern European countries and to ensure steady and sustained growth of China-Europe relations,” Xi said.
Hungary has proven to be a reliable partner for China, embracing cooperation without ideological preconditions. In 2010, Hungary implemented its “Opening to the East” policy, recognizing the shifting global economic landscape. Since then, China has become Hungary’s largest non-European trading partner, accounting for over 4% of Hungary’s total trade. Additionally, China is one of the top non-EU investors in Hungary.
The collaboration between the two nations extends across various sectors. Hungary serves as a regional hub for major Chinese companies such as the Bank of China and Huawei Consumer Services. In the automotive industry, Chinese electric vehicle manufacturers are expanding their presence in Hungary. In December, BYD announced plans to establish a significant assembly plant in Hungary, its first production facility in Europe, aimed at serving the European market. Great Wall Motor, another leading Chinese EV company, is also exploring expansion opportunities in the country.
The strengthening of China-Hungary relations is seen as a positive development in China-Europe cooperation. President Xi highlighted signs of stability and improvement in China-Europe relations and emphasized the role that China and Hungary can play in sustaining this momentum.
Reference(s):
cgtn.com
