Celebrating 75 years of diplomatic ties, China and Hungary are taking their relationship to new heights. On May 9, the two nations officially elevated their bilateral relations to an \"all-weather comprehensive strategic partnership for the new era\", a milestone announced during discussions between Chinese President Xi Jinping and Hungarian Prime Minister Viktor Orbán.
Following a state visit, President Xi published an article titled \"Embarking on a Golden Voyage in China-Hungary Relations\" in Hungary's Magyar Nemzet, highlighting the robust bond between the countries. He emphasized the importance of stable China-Europe relations, stating, \"recently, there are signs of stability for the better in China-Europe relations.\" Xi reiterated China's commitment by saying, \"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.\"
Hungary has emerged as a reliable partner for China, embracing cooperation without ideological constraints. Since adopting its \"Opening to the East\" policy in 2010, Hungary has seen China become its largest non-European trading partner, accounting for over 4% of its total trade. Additionally, China consistently ranks as the first or second-largest non-EU investor in the country.
Economic collaboration is thriving, with Hungary serving as a regional hub for major Chinese companies like the Bank of China and Huawei Consumer Services. In a significant development, BYD, China's electric vehicle giant, unveiled a major assembly plant in Hungary last December. This facility, the first of its kind in Europe, will manufacture vehicles and components tailored for the European market. Similarly, Great Wall Motor is poised to expand its operations within Hungary, signaling continued growth in the automotive sector.
As China and Hungary fortify their strategic partnership, their collaboration exemplifies the dynamic interplay between Eastern and Central Europe, fostering economic growth and reinforcing global ties.
Reference(s):
cgtn.com
