Hungary rakes in record Chinese investment – Bets big on East-West alliances

Minister of Foreign Affairs and Trade Péter Szijjártó met with executives of Chinese companies at a working breakfast in Budapest on Friday, his ministry said in a statement.

Szijjártó said Hungary aimed to remain the number one destination for Chinese investments in Europe, noting that the country had attracted 34pc of Chinese FDI in Europe in 2024 and 44pc in 2023. He added that Chinese companies formed the biggest group of foreign investors in Hungary in 2020, 2023 and 2024.

Szijjártó acknowledged the contribution of Chinese companies’ investments in Hungary to the country’s economic performance and warned that restrictions on Chinese-European economic cooperation would have severe consequences. He affirmed Hungary’s opposition to the “politicising” and “ideologising” approaches of some European Union leaders.

He said Hungary was a shining example of the benefits of cooperation between Western economies and China, adding that the country firmly rejected a return to a world of blocs. “We take the position that the world needs a global cooperation based on connectivity and mutual respect,” he added.

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