Chinese president to visit Hungary in May

Chinese President Xi Jinping is set to embark on a significant European tour in early May, with scheduled visits to France, Hungary, and Serbia, announced Gergely Gulyás, the head of the Prime Minister’s Office in Hungary. The visit, slated for May 8-10, occurs against a backdrop of intense geopolitical developments, including the ongoing conflict in Ukraine and rising trade tensions between Beijing and the European Union.

The symbolically charged tour gains added significance following Italy's recent decision to exit China's ambitious New Silk Road project. This move by Italy, set to be finalized by Italian Prime Minister Giorgia Meloni in July, heightens the strategic importance of Central and Eastern European countries like Hungary and Serbia as gateways for China’s land access to the EU.

Crucial partner for China
Levente Horváth, director of the Eurasia Centre, emphasized the strong economic and geopolitical alignment between Hungary and China. "Hungary's stable political and economic climate, along with its strategic location in the EU, makes it a crucial partner for China," Horváth told online news portal Index. He added that the longstanding policy of 'opening up to the East,' initiated by Hungarian Prime Minister Viktor Orbán, has fostered deepening ties with China and other Asian nations. "While we sail under the Western flag, the economic winds blow from the East," Horváth quoted Orbán's policy slogan, highlighting the need for a balanced foreign policy that embraces both Eastern and Western partners.
The Chinese President's itinerary includes a stop in Paris, reflecting the ongoing annual exchanges between France and China. French President Emmanuel Macron has committed to visiting China each year of his presidency, with reciprocal visits by Chinese leadership.

Key economic partner
In Budapest, the upcoming visit is seen as vital for continuing to attract Chinese investment, which currently includes projects worth approximately EUR 15.2 billion, generating some 25,000 jobs in Hungary. Most of these investments are concentrated in the automotive sector, underscoring China's global leadership in this industry. The economic influence of China stands second only to Germany in terms of its impact on Hungary’s economic output.
“Cooperation between CHina and Hungary has yielded a lot of benefits to both countries in recent years and the opportunities offer good hopes for the future,” Péter Szijjártó, MInister of Foreign Affairs and Trade said recently.
Additionally, the development of the Belgrade-Budapest freight railway is a key element of this visit, underscoring the strategic economic links between Hungary, Serbia, and China, further illustrating the complex and evolving geopolitical landscape in the region.