Wen Jiabao, the Chinese Prime Minister, is scheduled to arrive on a two-day official visit to Budapest on Friday.
Several trade agreements are expected to be signed during his visit. Wen’s programme includes a meeting with Prime Minister Viktor Orban and with Hungary’s President Pal Schmitt on Saturday. The two prime ministers will attend and address a Central and Eastern European economic forum organised by the Hungarian Academy of Sciences.
Facts about Hungarian-Chinese relations:
- Hungary and China establishes diplomatic relations on October 6, 1949
- Central Europe’s largest Chinese community, numbering tens of thousands, lives in Hungary
- Hungary and China signs a joint declaration on June 10, 2004 to re-qualify their cooperation as a “friendship cooperation partnership”
- The first visit by a Hungarian prime minister to China after the transition to democracy takes place in 2003 when Prime Minister Peter Medgyessy heads a delegation for a four-day official visit to China
- Prime Minister Viktor Orban visits China at the invitation of his counterpart Wen Jiabao to attend the closing events of the Shanghai world expo
- Meeting again in Shanghai, Orban and Wen agree to tighten bilateral political, economic and cultural relations
Economic, business ties:
- Chinese telco ZTE Corp signs contract in August 2010 for building 2G, 3G and 4G mobile networks in cooperation with Telenor Hungary over the next five years
- Chinese investors purchase the heritage-listed Turkish-style Tisza Szallo in Szolnok (C) for an undisclosed sum, estimated in the hundreds of millions of forints
- China’s Wanhua Industrial Group, buys a 96 percent stake in Hungarian chemicals company BorsodChem and injects 140 million euros worth of capital
- A joint Chinese-Hungarian solar panel manufacturer sets up in Berettyoujfalu (E) in March 2011
- Tamas Fellegi, the national development minister and commissioner in charge of economic ties with China, heads a delegation to China in April 2011 where he meets State Councillor Dai Bingguo, People’s Bank of China Governor Zhou Xiaochuan and business executives in Hongkong and Senzhen to promote long-term strategic cooperation
- The China Railway Construction Corporation signs a strategic agreement on its involvement in the comprehensive financial restructuring of Hungarian state railway MAV.
- Hungary becomes the second largest logistics base for Huawei after it announces in April 2011 plans to expand production and logistics services in Komarom (NW) and Pecs (SW)
- Chinese investors sign 10-million-euro deal on building a LED assembly plant in Miskolc (NE) in May 2011
- Bilateral trade in 2010 reached 8.72 billion dollars, up 28 percent from the previous year
- Hungary-China trade rose a further 20.7 percent in the first two months of this year
- Chinese investments in Hungary totals 2.5 billion dollars, mainly in the financial, aircraft industry, trade, chemicals and logistics sectors
- Joint ventures in Hungary have increased labour force by 10,000 and the number of Hungarian projects launched in China in 2010 exceeded 670