On April 3, 2025, the HEPA Hungarian Export Promotion Agency hosted the Hungarian-Chinese Business Forum in Budapest, alongside the 21st session of the Hungarian-Chinese Economic Joint Committee.
Key participants included:
• H.E. Ling Ji, China’s Vice Minister of Commerce
• H.E. Levente Magyar, Deputy Minister of Foreign Affairs and Trade of Hungary
• H.E. Gong Tao, Ambassador Extraordinary and Plenipotentiary
• Dr. Gábor Péter Artner, Deputy CEO of HEPA
The forum highlighted the dynamic growth of Hungarian-Chinese economic relations, rooted in mutual commitment, shared business traditions, and trust.
Levente Magyar emphasized the increasing value of stable bilateral ties in a changing world, noting the presence of 250 companies as proof of China’s strong interest in Hungary. He also pointed out China’s economic rise: from two-thirds of Germany’s GDP at the millennium to four times that amount 25 years later. In some years, Hungary received 44% of China’s direct investments into the EU.
During talks with Ling Ji, both sides agreed to prioritize knowledge-intensive investments over traditional manufacturing, as some sectors have reached their capacity limits.
Ling Ji stated that President Xi Jinping’s 2024 visit to Budapest elevated the strategic partnership to a new level. He identified further opportunities in renewable energy, digitalization, and R&D, inviting Hungarian IT and biotech firms to the Chinese market.
Ambassador Gong Tao noted that Xi’s visit and the alignment of China’s Belt and Road Initiative with Hungary’s Eastern Opening policy led to a comprehensive strategic agreement. Bilateral trade rose 11.4% last year to $16.2 billion. China remains Hungary’s top non-EU trading partner and was the largest investor in Hungary in 2020, 2023, and 2024.
Dr. Artner recalled Xi’s visit and highlighted Hungary’s role as guest of honor at major Chinese expos (CIFIT in Xiamen and CISCE in Beijing), offering Hungarian companies visibility in China. Hungary will also participate in the 4th China-CEEC Expo in May and the 25th CIFIT in September.
The forum concluded with Sinochem signing a letter of intent to purchase refined sunflower oil from Hungarian firms Bunge Zrt. and Viterra Hungary Kft.