Xi's visit to Hungary and Serbia brings new Chinese investment and deeper ties to Europe's doorstep

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 48 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 54%
  • Publisher: 63%

Viktor Orbán News

Serbia,President Xi Jinping,BUDAPEST

BUDAPEST, Hungary (AP) — When Chinese President Xi Jinping visited Hungary last week, he arrived to one of the few places in the European Union where his...

BUDAPEST, Hungary — When Chinese President Xi Jinping visited Hungary last week, he arrived to one of the few places in the European Union where his country is considered an indispensable ally rather than a rival.

Xi's visit, Vegh wrote in a statement, shows that Hungary's government "remains indifferent to its allies’ concerns and will continue to strengthen its bilateral ties with China in order to position itself favorably in what it perceives as a developing multipolar world.

China has poured billions of dollars into Serbia in investment and loans, particularly in mining and infrastructure. The two countries signed an agreement on a strategic partnership in 2016 and a free trade agreement last year. The government has said the officers will ensure public safety among Chinese tourists and members of Hungary's large Chinese diaspora. But critics say the officers could be used as an extension of Xi's single-party state to exert control over the Chinese community.that has seen billions in structural funds frozen to Budapest over concerns that he has captured democratic institutions and abused the bloc's funds.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSİNESS

Business Business Latest News, Business Business Headlines