Sino-Hungarian cooperation to prepare the construction of the Ferihegy and Budapest bypass railways

Eighteen agreements were signed during the visit of Chinese President Xi Jinping to Hungary, announced Minister of Foreign Affairs and Trade Péter Szijjártó.

Railways also help market access for products from Chinese investment

In the framework of China's One Belt, One Road strategy, a list of projects has been drawn up jointly with Hungary, which includes investments and developments to be implemented jointly. This list has been further expanded:

• the construction of a rail ring road bypassing Budapest,
• and the preparation of a high-speed rail link between the airport and the centre of Budapest.

The development of the electric car charging network will also be launched, so that electric cars can be charged in as many parts of the country as possible.

The main aim of the railway development is to ensure that products produced through Chinese investment in the eastern half of Hungary can be efficiently transported to European markets.

Serbian-Hungarian border crossing and oil pipeline to be built with Chinese participation

Among the joint developments, Szijjártó mentioned the construction of the fastest and safest border crossing point in Europe on the Serbian-Hungarian border, as well as the implementation of an oil pipeline between Serbia and Hungary with Chinese participation.

The two sides also cooperate in the nuclear field

The Foreign Minister also announced that cooperation between the two countries will be extended to the field of nuclear energy. The politician justified this by the growing demand for electricity, which can best be met by nuclear energy.

Many giant Chinese investments are taking place in our country

Currently, Chinese investments in Hungary amount to 6400 billion forints. As reported by our portal last year , China's Eve Power, the world's ninth largest electric battery manufacturer, is building its first European plant in Debrecen with an investment of HUF 400 billion. Also in 2023, announced that China's Huayou Cobalt will set up its first European plant in Ács, in the Komárom-Esztergom customs district, where it will manufacture cathodes for electric batteries. In Nyíregyháza, China's Sunwoda – the world's ninth largest electric battery manufacturer – is building a plant in Nyíregyháza, also as part of its European expansion. Also last year, announced that the Chinese company BYD would be moving to Szeged as part of a huge investment. In a series of Chinese investments in recent weeks, it was announced that the Chinese company Fiberhome will establish its largest European centre in Kisbér, Hungary, where optical cables will be manufactured.