China Expands Economic Influence In Hungary And Serbia

Tourists stand under Chinese and Hungarian national flags placed on the Elisabeth Bridge in Budapest, Hungary, Wednesday, May 8, 2024. Most countries in the European Union are making efforts to

During Chinese President Xi Jinping's recent visit to Hungary, significant economic agreements were reached, solidifying China's position as a key ally in the region. Hungary, unlike many other EU countries, has embraced Chinese investments, viewing them as crucial for Europe's future.

Following discussions with Prime Minister Viktor Orbán, a new era of economic cooperation was announced, including plans for a joint Hungarian-Chinese railway bypass and a high-speed train link in Budapest. Additionally, agreements were made to expand cooperation in the nuclear industry, electric vehicle infrastructure, and an oil pipeline between Hungary and Serbia.