China's Guangdong-Hong Kong-Macao Bay Area Partners with Hungary on Major Investment Projects
On May 20, 2025, a significant conference took place in Budapest, marking a new chapter in the economic collaboration between China's Guangdong-Hong Kong-Macao Bay Area and Hungary. During this high-level meeting, a staggering 36 investment projects were signed, amounting to over $3.8 billion. The conference showcased the growing partnership between leading companies from the Greater Bay Area and Hungarian partners, emphasizing China’s position as a critical player in Hungary’s foreign investment landscape.
One of the standout initiatives announced was by BYD, a major electric vehicle manufacturer based in Guangdong, which plans to establish its European headquarters in Budapest. This development signifies Hungary's appeal as a strategic hub for Chinese investments looking to penetrate the European market. According to China's Ambassador to Hungary, Gong Tao, the nation has become a favored destination for Chinese investment in Europe. He noted that cooperation between China and Hungary is not just broadening in scope but also progressing swiftly on grand-scale collective projects.
Remarkably, China has remained Hungary's largest source of foreign direct investment (FDI) for two consecutive years. Projections for 2024 indicate that over 51% of Hungary's FDI will originate from China, illustrating the depth and significance of this economic relationship. Peto Erno, the President of the Hungarian-Chinese Economic Chamber, expressed that Hungary serves as an ideal entry point for Chinese investors aiming to tap into the EU market. The nation’s geographical centrality, combined with excellent connectivity to neighboring countries within the EU, enhances its attractiveness as an investment location.
In noteworthy statistics, Guangdong’s investments in Hungary surged by an impressive 113% in 2024, with prominent companies like Huawei, ZTE, and BYD contributing to the creation of over 10,000 local jobs. This increase not only underscores the robust economic ties but also reflects the mutual benefits of Chinese investments in Hungary's job market and technological advancement.
Hungarian Deputy Minister of Foreign Affairs and Trade, Levente Magyar, emphasized that the collaboration extends beyond mere economic interests. He stated, "We are not looking just for investors; we are looking for friends," highlighting the importance of building strong, lasting relationships between the two nations.
The conference marked a pivotal moment, reinforcing the strategic importance of cooperation between China and Hungary, and setting the stage for future projects that can further enhance their economic ties. As these initiatives unfold, both nations are poised to reap the benefits of mutual investment and collaboration, paving the way for shared growth in a rapidly evolving global landscape.
One of the standout initiatives announced was by BYD, a major electric vehicle manufacturer based in Guangdong, which plans to establish its European headquarters in Budapest. This development signifies Hungary's appeal as a strategic hub for Chinese investments looking to penetrate the European market. According to China's Ambassador to Hungary, Gong Tao, the nation has become a favored destination for Chinese investment in Europe. He noted that cooperation between China and Hungary is not just broadening in scope but also progressing swiftly on grand-scale collective projects.
Remarkably, China has remained Hungary's largest source of foreign direct investment (FDI) for two consecutive years. Projections for 2024 indicate that over 51% of Hungary's FDI will originate from China, illustrating the depth and significance of this economic relationship. Peto Erno, the President of the Hungarian-Chinese Economic Chamber, expressed that Hungary serves as an ideal entry point for Chinese investors aiming to tap into the EU market. The nation’s geographical centrality, combined with excellent connectivity to neighboring countries within the EU, enhances its attractiveness as an investment location.
In noteworthy statistics, Guangdong’s investments in Hungary surged by an impressive 113% in 2024, with prominent companies like Huawei, ZTE, and BYD contributing to the creation of over 10,000 local jobs. This increase not only underscores the robust economic ties but also reflects the mutual benefits of Chinese investments in Hungary's job market and technological advancement.
Hungarian Deputy Minister of Foreign Affairs and Trade, Levente Magyar, emphasized that the collaboration extends beyond mere economic interests. He stated, "We are not looking just for investors; we are looking for friends," highlighting the importance of building strong, lasting relationships between the two nations.
The conference marked a pivotal moment, reinforcing the strategic importance of cooperation between China and Hungary, and setting the stage for future projects that can further enhance their economic ties. As these initiatives unfold, both nations are poised to reap the benefits of mutual investment and collaboration, paving the way for shared growth in a rapidly evolving global landscape.
Topics General Business）
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