Hungary and China sign strategic cooperation agreement during visit by Chinese President Xi

Hungary and China signed a number of new agreements on Thursday to deepen their economic and cultural cooperation during a visit to the Central European country by Chinese President Xi Jinping, a trip meant to solidify China's economic footprint in the region.

Xi and Hungarian Prime Minister Viktor Orbán held talks in the capital Budapest as part of the Chinese leader's final stop on a five-day European tour that also took in Serbia and France. During a press briefing following the talks, Orbán praised the “continuous, uninterrupted friendship” between the two countries since his tenure began in 2010, and promised that Hungary would continue to host further Chinese investments.

“I would like to assure the president that Hungary will continue to provide fair conditions for Chinese companies investing in our country, and that we will create the opportunity for the most modern Western and the most modern Eastern technologies to meet and build cooperation in Hungary,” Orbán said.

“Looking back at the world economy and commerce of 20 years ago, it doesn’t resemble at all what we’re living in today," Orbán said. “Then, we lived in a single polar world, and now we live in a multi-polar world order, and one of the main columns of this new world order is China.”

He added that Hungary would seek to expand economic cooperation with China to the field of nuclear energy. Hungary is currently working with Russia on adding a new reactor to its Paks nuclear facility, which is expected to go online by the end of the decade.