China's Greater Bay Area and Hungary Finalize Multi-Billion Dollar Investments

Major Economic Milestone: Investments between China's Greater Bay Area and Hungary

On May 21, 2025, Budapest became the venue for a groundbreaking conference that highlighted the robust economic and trade collaboration between the Greater Bay Area of China, including Guangdong, Hong Kong, and Macao, and Hungary. During this pivotal event, a total of 36 investment projects were signed, accumulating over $3.8 billion, primarily involving leading corporations from the Greater Bay Area and their Hungarian partners. Among the most notable projects is the establishment of a new European headquarters by BYD, a prominent electric vehicle manufacturer based in Guangdong.

Chinese Ambassador to Hungary, Gong Tao, emphasized Hungary's growing prominence as a favored destination for Chinese investments within Europe. He noted, "The cooperation between both parties continues to expand, and key joint projects are progressing steadily." For the second consecutive year, China has been recognized as the largest source of foreign direct investment (FDI) in Hungary, accounting for 51% of all FDI in the country in 2024.

Peto Erno, president of the Hungary-China Business Chamber, remarked that Hungary's strategic position as the heart of Central Europe makes it an ideal gateway for Chinese investments to access the European Union market. He stated, “We are located at the center of Central Europe and have excellent connections to neighboring countries and EU member states.”

In 2024 alone, investments from Guangdong Province in Hungary surged by a remarkable 113%. Major players like Huawei, ZTE, and BYD have contributed significantly to the local job market, collectively creating over 10,000 jobs for Hungarian residents.

Levente Magyar, Hungary's Deputy Minister of Foreign Affairs and Trade, highlighted that the focus extends beyond mere economic cooperation. He expressed, "In fact, we are not just looking for investors. We are looking for friends." This statement encapsulates the vision of strengthening relationships between the two regions through collaborative efforts and shared goals.

The collaboration aims to foster long-term partnerships that will benefit both regions, spanning various sectors including technology, infrastructure, and trade. As these partnerships evolve, both parties expect to see enhanced economic growth, improved connectivity, and greater cultural exchange between the peoples of China and Hungary.

Moving forward, events like this conference are set to become frequent as both parties recognize the potential of their partnership. With ambitious projects on the horizon and a solid framework for cooperation, the potential for an even stronger economic bond between China's Greater Bay Area and Hungary is substantial.

This summit signifies a key step in reinforcing economic ties and illustrates how strategic collaboration can pave the way for mutual growth and prosperity. As the new headquarters for BYD takes shape in Budapest, it will symbolize not only technological advancement but also the enduring friendship between Hungary and China.