Xi Jinping’s latest European tour has taken him to Serbia and Hungary, where he is met with warm welcomes from leaders who have shown a critical stance towards the West. Serbian President Aleksandar Vucic and Hungarian Prime Minister Viktor Orban have embraced a pro-China rhetoric, with no mention of China’s human rights record or trade policies. Instead, the focus is on strengthening economic ties and attracting Chinese investments in key sectors.
Major investments
Hungary, in particular, has emerged as a favored destination for Chinese companies, with major investments in electric vehicle manufacturing. Chinese firms like CATL and BYD have set up factories in Hungarian cities, creating thousands of jobs and reducing dependence on the German automotive industry. These strategic partnerships not only boost Hungary’s economy but also provide a gateway to navigate potential trade barriers set by the EU.
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Hungary sets out to win Europe’s electric car race