By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Xi Jinping praises Hungary’s ‘independent’ foreign policy ahead of Orbán meeting
News

Xi Jinping praises Hungary’s ‘independent’ foreign policy ahead of Orbán meeting

News Room
Last updated: 2024/05/08 at 4:57 AM
By News Room
Share
4 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

China’s President Xi Jinping has praised Hungarian Prime Minister Viktor Orbán’s government for pursuing an “independent” foreign policy and “defying” great power politics on a European trip that analysts say is aimed at exploiting divisions in the EU and Nato.

Xi, who is due to arrive in Hungary from Serbia this evening at the conclusion of his five-day European tour, called for Budapest to “lead” relations between central and eastern European nations with China in a letter published by Hungarian media group Magyar Nemzet.

“We have gone through hardships together and defied power politics together amid volatile international relations,” Xi said in an English version of the article. “We have found our respective path for sovereign states to independently conduct friendly exchanges with other countries.”

The comments appeared to be a reference to how Orbán, Europe’s longest-serving prime minister, has long defied pressure from Brussels, the US and Nato, maintained friendly relations with Moscow and deepened business ties with China.

Xi told French President Emmanuel Macron on Monday at the start of his trip that the world needed to avoid a “new cold war”, part of a campaign by Chinese policymakers to convince European governments to distance themselves from US foreign policy which, it is claimed, is aimed at containing their rise.

China regards Hungary as one of its closest partners in Europe and has lavished investment promises on the country. One potential project under discussion is an electric vehicle plant for China’s Great Wall Motor, Chinese officials have said, following investments by EV maker BYD and battery maker CATL.

According to official Chinese estimates, accumulated foreign direct investment by Chinese enterprises in Hungary could reach €30bn by the end of this year.

“Our two countries need to lead regional co-operation,” Xi said in his letter, adding that Hungary could help China deepen its ties with central and eastern European countries to ensure “steady” relations between Beijing and the bloc.

While Xi’s comments will probably please the government in Budapest, they are unlikely to placate European concerns about Beijing’s priorities.

During his meeting with Macron, Xi gave no ground on European complaints that oversupply and weak demand in China could threaten EU industry through the dumping of cheap products on the bloc’s markets.

The EU is also concerned about Xi’s close relationship with Russian President Vladimir Putin and China’s growing trade with Russia, which the bloc alleges has helped Moscow withstand western sanctions since it launched its full-scale invasion of Ukraine in 2022.

Xi’s visits to Hungary and Serbia — which are seen as among Europe’s most Russia-friendly countries — will do little to dispel those concerns, analysts said.

Orbán in October became the first EU leader to meet Putin since the Russian president ordered the full-scale invasion of Ukraine.

The meeting took place in Beijing on the sidelines of the Belt and Road forum, Xi’s signature infrastructure investment initiative, where Orbán was the only European leader in attendance.

In Serbia on Tuesday, Xi lashed out at Nato over the 1999 bombing of the Chinese embassy in Belgrade, which killed three people, saying that Chinese and Serbians should “never forget” the incident.

Read the full article here

News Room May 8, 2024 May 8, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Markets are in risk-off mode: Some of the ‘bloom is off the rose’ for AI, strategist says

Watch full video on YouTube

Why Iran Is Moving Oil Markets

Watch full video on YouTube

Why 2026 could be a good setup for stocks, bitcoin slides below $85K

Watch full video on YouTube

Why Everyone’s Suddenly Talking About Private Credit

Watch full video on YouTube

Golden Buying Opportunities: Deeply Undervalued With Potential Upside Catalysts

This article was written byFollowSamuel Smith has a diverse background that includes…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Golden Buying Opportunities: Deeply Undervalued With Potential Upside Catalysts

By News Room
News

NewtekOne, Inc. (NEWT) Q4 2025 Earnings Call Transcript

By News Room
News

Tesla lurches into the Musk robotics era

By News Room
News

Keir Starmer meets Xi Jinping in bid to revive strained UK-China ties

By News Room
News

Canadian Pacific Kansas City Limited (CP:CA) Q4 2025 Earnings Call Transcript

By News Room
News

SpaceX weighs June IPO timed to planetary alignment and Elon Musk’s birthday

By News Room
News

Japan’s discount election: why ‘dirt cheap’ shoppers became the key voters

By News Room
News

Logitech International S.A. (LOGI) Q3 2026 Earnings Call Transcript

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?