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World News May 10, 2024

‘Golden voyage’ in bilateral ties: China, Hungary outline new blueprint for cooperation, development

China and Hungary have upgraded their bilateral relations to an “all-weather comprehensive strategic partnership for the new era.” This decision was announced during talks between Chinese President Xi Jinping and Hungarian Prime Minister Viktor Orban. Both leaders highlighted the significance of this move in shaping the future development of their countries’ relations and fostering cooperation.

Xi emphasized the importance of maintaining strong mutual trust and partnership for win-win cooperation between China and Hungary, especially as 2024 marks the 75th anniversary of their diplomatic relations. He expressed optimism about the current state of bilateral ties, citing increased trade volume and Chinese investment in Hungary.

Hungary has been an active participant in China’s Belt and Road Initiative, with the two countries enhancing cooperation in various sectors such as trade, investment, and infrastructure development. The recent announcement of a major investment by Chinese electric vehicle maker BYD in Hungary further solidifies this partnership.

Xi also highlighted the importance of people-to-people exchanges in strengthening China-Hungary relations, noting initiatives such as Hungarian language courses in Chinese universities and the growing popularity of Confucius Institutes in Hungary.

Orban reaffirmed Hungary’s commitment to deepening cooperation with China, emphasizing that China’s development presents opportunities rather than risks for Europe. He dismissed concerns about “overcapacity” or “de-risking” and reiterated Hungary’s determination to strengthen ties with China despite external pressures.

Source – CGTN

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