Peter Holica, Undersecretary of State for European Union Affairs and International Relations at the Hungarian Ministry of Energy, speaks at the 2024 Renewable Energy Investments in Hungary Business Summit in Budapest, Hungary on April 9, 2024. Industry leaders and government officials from Hungary and China gathered Tuesday at the 2024 Hungary Renewable Energy Business Investment Summit to discuss opportunities for cooperation, showcasing deepening economic ties between the two nations. (Photo: Attila Volgyi/Xinhua)
BUDAPEST, April 9 (Xinhua) — Industry leaders and government officials from Hungary and China gathered Tuesday at the 2024 Hungary Renewable Energy Investment Business Summit to discuss cooperation opportunities, showcasing deepening economic ties between the two nations.
Marking the 75th anniversary of China-Hungary diplomatic relations and the 10th anniversary of the Hungarian Investment Promotion Agency (HIPA), Gergely Karbutzky, Deputy CEO and COO of HIPA, expressed optimism for the future of Hungarian-Chinese relations.
Hungary received a record 13 billion euros ($14.1 billion) in foreign direct investment last year, including 7.6 billion euros from Chinese investors, data published by HIPA showed.
According to Peter Holitsa, Undersecretary of State for European Union Affairs and International Relations at the Ministry of Energy, economic cooperation between China and Hungary has brought 8.5 billion euros of investment, 33 projects and over 13,000 jobs from Chinese investors in the last five years.
“We deeply value cooperation in the economic and energy sectors,” Holica said, citing the importance of Prime Minister Viktor Orbán’s visit to southern China’s Shenzhen last year and foreseeing Hungary’s potential as an important player in the global battery industry with China’s support.
“The strength of a quality relationship with China is critical to helping us achieve our energy and climate goals,” he added.
Sun Xiaoyu, Chief Representative of the Economic and Trade Office of the Shenzhen Municipal Trade Bureau in Europe, highlighted the growing trade relations between China and Hungary, as well as Shenzhen’s contribution to Hungary’s renewable energy sector.
“By 2023, the import and export between China and Hungary will reach 14.52 billion US dollars. Last year, the total volume of imports and exports amounted to US$2.6 billion,” Sun said.
Chen Shou, president of the Shenzhen Renewable Energy Industry Association, highlighted Shenzhen’s leadership in China’s renewable energy sector and the city’s contribution to the global green transformation. “Green transformation has become an important trend… The association will… promote cooperation between Hungary and China to a new height.” ■
Gergely Karbutsky, Deputy CEO and COO of the Hungarian Investment Promotion Agency (HIPA), speaks at the 2024 Hungarian Renewable Energy Business Investment Summit in Budapest, Hungary on April 9, 2024. Industry leaders and government officials from Hungary and China gathered on Tuesday at the 2024 Hungary Renewable Energy Business Investment Summit to discuss opportunities for cooperation, showcasing deepening economic ties between the two nations. (Photo: Attila Volgyi/Xinhua)
People attend the 2024 Hungary Renewable Energy Business Investment Summit in Budapest, Hungary, on April 9, 2024. Industry leaders and government officials from Hungary and China gathered on Tuesday at the Hungary Renewable Energy Business Investment Summit in 2024 to discuss opportunities for cooperation, demonstrating deepening economic ties between the two nations. (Photo: Attila Volgyi/Xinhua)
