BEIJING: China and Hungary decided on Thursday to elevate bilateral relations to an “all-weather comprehensive strategic partnership for the new era.” The decision was announced during the talks between visiting Chinese President Xi Jinping and Hungarian Prime Minister Viktor Orban.
Pushing bilateral relations to new heights, the two leaders affirmed that the decision has charted the course for the future development of China-Hungary relations, and will inject new and powerful impetus into bilateral cooperation and create a better future for the two peoples.
Noting that this year marks the 75th anniversary of the establishment of diplomatic relations between China and Hungary, Xi called on the two countries to continue to be good friends with mutual trust and good partners for win-win cooperation.
Ahead of his visit to Hungary, Xi had a signed article published in the Hungarian newspaper Magyar Nemzet, where he said the bilateral relationship is at its best in history, and has embarked on a golden voyage.
The bilateral trade volume in 2023 reached $14.52 billion, an increase of 73 percent compared with that in 2013, according to the China-Hungary Investment and Cooperation Report. Meanwhile, China’s direct investment in Hungary reached 7.6 billion euros in 2023, accounting for 58 percent of Hungary’s total foreign direct investment.
Hungary is the first European country to sign a Belt and Road cooperation document with China. In recent years, the Belt and Road Initiative has synergized more closely with Hungary’s Eastern Opening strategy, enhancing bilateral practical cooperation in trade, investment, finance and other areas. Last December, Chinese electric vehicle maker BYD announced to build its first European new energy passenger vehicle factory in Hungary, which Hungary’s Minister of Foreign Affairs and Trade Peter Szijjarto described as “one of the most significant investments in Hungary’s economic history.” –The Daily Mail-CGTN news exchange item
