Chinese President Xi Jinping’s visit to Hungary on Thursday marked a significant milestone in the deepening economic and cultural cooperation between the two countries. During his meeting with Hungarian Prime Minister Viktor Orbn in Budapest, several new agreements were signed to further solidify China’s economic footprint in the region.
Orbn praised the longstanding friendship between Hungary and China, vowing to continue hosting Chinese investments and fostering technological cooperation between the East and West. China has invested billions in Hungary, with plans for the world’s largest EV manufacturer, BYD, to open its first European production factory in the country. This move could potentially disrupt the competitiveness of the continent’s auto industry.
The Belt and Road Initiative, a key part of China’s global strategy, was highlighted during Xi’s visit, with both leaders agreeing on its alignment with Hungary’s eastward opening strategy. The signing of a strategic partnership agreement and 18 other agreements further solidified the growing ties between the two nations.
Despite the positive developments, Xi’s visit was met with mixed reactions in Budapest, with both supporters and critics gathering to demonstrate. Conflicts arose between Tibetan protesters and Chinese nationals, with accusations of Chinese interference in Hungarian affairs.
As Hungary seeks to expand economic cooperation with China, particularly in the field of nuclear energy, the visit of President Xi Jinping serves as a testament to the evolving global power dynamics and Hungary’s strategic positioning within it. With ongoing projects and agreements in place, the future of Sino-Hungarian relations looks promising.