Chinese President Xi Jinping's recent visit to Hungary aimed to solidify economic ties and broaden cultural cooperation with Hungarian Prime Minister Viktor Orban. The leaders held talks in Budapest as part of Xi's European tour, focusing on the continuous friendship between the two countries and the promise of Hungary providing favorable conditions for Chinese investments.
Hungary has become an essential foothold for Chinese investments within the European Union, attracting significant economic ventures such as BYD opening its first European electric vehicle production factory in the country. Additionally, Hungary aims to position itself as a global hub for lithium-ion battery manufacturing and is part of a railway project under Xi's Belt and Road Initiative to enhance trade connections with Chinese-controlled ports.
During the visit, Xi and Orban discussed the alignment of Hungary's strategy with China's Belt and Road Initiative, emphasizing the potential for increased cooperation in various sectors. While several agreements were signed between Hungarian and Chinese officials, including a strategic partnership agreement, no major investments were officially announced, although discussions on potential projects like a freight railway bypass and a rail link between Budapest and its airport were mentioned.
The visit wasn't without controversy, as minor conflicts arose between Tibetan protesters and Chinese nationals during Xi's visit, with the latter attempting to prevent the display of Tibetan flags. Critics raised concerns about the presence of Chinese 'volunteers' from the embassy influencing the protest atmosphere and restrictions on freedom of expression.
6 Comments
Muchacha
Belt and Road Initiative can bring much-needed infrastructure development and trade opportunities to Hungary.
Coccinella
This strategic partnership benefits China far more than it benefits Hungary. Orban is making a grave mistake.
ZmeeLove
Transparency and accountability are missing from these deals. We need to know more about the terms of these agreements.
Manolo Noriega
The railway project is likely to benefit Chinese businesses over Hungarian ones. This is not a fair deal.
BuggaBoom
This visit is a step towards Hungary becoming a client state of China. We must resist this dangerous path.
Noir Black
Focus on lithium-ion battery production ignores the need for sustainable energy solutions. Hungary is missing the bigger picture.