China becomes Hungary’s top non-EU trade partner with major rail, EV projects

The development of Chinese-Hungarian relations is a success story of Hungary’s opening to the East scheme, the speaker of parliament, László Kövér, said after the signing of a cooperation agreement between the Parliament Office and the office of China’s Standing Committee of the National People’s Congress.

Kövér said in a joint statement with Chairman of the Standing Committee of the National People’s Congress Zhao Leji that as speakers of parliament, they were determined to provide support to their respective governments in order to expand bilateral relations and make them as close as possible.

Kövér said his Chinese guest would inspect the Belgrade-Budapest high-speed rail investment project. He added that the project was a symbol of the cooperation that results from the Hungarian government’s Opening to the East scheme and the One Belt One Road project launched by Chinese leader Xi Jinping.

Kövér said China was the number one trade partner for Hungary outside the European Union. He added that in 2020, in 2023, and in 2024, China had been the largest investor in Hungary and the country had announced some greatly important investment projects. He said BYD was going to carry out the largest greenfield investment in Hungarian history.

Read more about China-Hungary relations on Daily News Hungary.

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