Hungary and China have solidified their economic and cultural cooperation with the signing of several new agreements during Chinese President Xi Jinping's visit to Budapest. The visit, part of Xi's European tour, included discussions with Hungarian Prime Minister Viktor Orbán. Orbán commended the longstanding friendship between the two nations and assured Hungary's commitment to facilitating further Chinese investments.
China has made significant investments in Hungary, considering it a crucial gateway to the European Union. In a major development, Hungary announced that China's BYD would establish its first European electric vehicle production factory in the country. Hungary also aims to become a global center for lithium-ion battery manufacturing and is actively involved in a railway project connecting the country to the Chinese-controlled port of Piraeus in Greece.
Xi and Orbán concurred that China's Belt and Road Initiative aligns well with Hungary's strategy of opening up to the east.
China expressed its support for Hungary to play a more significant role in advancing China-EU relations. While several agreements were signed during the visit, including a strategic partnership agreement, no major investment announcements were made publicly.
Orbán, known for his nationalist stance, highlighted China's increasing influence in the global economy. He noted that three-quarters of investments in Hungary last year came from China. Hungary also aims to broaden cooperation with China in the field of nuclear energy, collaborating with Russia on adding a new reactor to its Paks nuclear facility.
Xi's visit to Budapest was met with both support and criticism, with road closures and heightened security in place as groups gathered to demonstrate. Some Chinese nationals, claiming to be embassy volunteers, were present, ensuring that no flags or symbols related to Tibet or Taiwan were displayed along Xi's motorcade route. Tibetan protesters clashed with these Chinese nationals, criticizing Hungary's government for allowing Chinese police presence on Hungarian streets.