China-Hungary Deepening Economic and Trade Ties
The level of economic and trade cooperation between China and Hungary is growing. Bilateral trade between the countries expanded 9.8 percent year-on-year to $6.49 billion in the first nine months of this year.
Chinese investments in Eastern and Central Europe exceeded $5 billion at the end of 2015, of which $3.16 billion had been invested in Hungary.
China is investing in the Hungary-Serbia Railway which will link the capitals of Hungary and Serbia, Budapest and Belgrade, a length of 220 miles at a maximum speed of 125 miles per hour. Last November, China signed deals with Hungary and Serbia to construct and revamp the rail link. Construction on the Serbian section of the link—112 miles—began at the end of last year. The time to transport freight between China and Europe will be significantly shortened when the railway is complete.
Meetings between the Serbian and Chinese premiers called for further cooperation in highway construction as well as and the construction of Hungary-Serbia railway.