Minister for National Economy Márton Nagy paid an official visit to Beijing, where three key economic policy consultations took place with leaders of the National Development and Reform Commission (NDRC), the Ministry of Industry and Information Technology (MIIT) of China and the Chinese Ministry of Finance.
The Hungarian Ministry for National Economy emphasized that China is Hungary’s most important trading partner outside Europe and was the most important investor country in terms of investment volume in both 2023 and 2024. Hungary has strengthened its position as the leading Chinese capital center in the region, attracting 31 percent of all Chinese investment in Europe, ahead of Germany, France, and Great Britain.
As announced, the aim of the talks was to strengthen the long-term competitiveness of the Hungarian economy, deepen industrial and technological cooperation in line with the policy of economic neutrality, and increase financial partnership between the two countries.
As a result of the talks, two strategically important documents were signed:
a memorandum of understanding was reached with the NDRC on cooperation in the field of artificial intelligence (AI), while a letter of intent was signed with the MIIT on the establishment of a China-Hungary Automotive Industry Cooperation Working Group.
Minister for National Economy Márton Nagy. Photo: MTI/Purger Tamás
During the consultation with NDRC leaders, the parties reviewed the key areas of Hungary’s industrial development strategy. The talks focused on AI solutions related to the development of self-driving vehicles and improving the competitiveness of the domestic SME sector. The parties signed a third memorandum of understanding between the institutions, specifically aimed at the development of AI technologies and their industrial application.
The agreement aims to promote the exchange of experience, increase the adaptability of domestic SMEs to AI, support joint research and development projects, and promote the further international integration of the ZalaZONE test track.
The agreement will help Hungary further strengthen its role as a target for high-tech investments, the Ministry for Economy pointed out in its statement.
During the meeting with MIIT, the parties reviewed cooperation in the development of the automotive ecosystem, with particular attention to the development of charging infrastructure for electric vehicles, technology transfer in the field of self-driving cars, and the expansion of industrial production capacities in Hungary. The joint automotive working group, agreed upon at the end of the talks, would focus on studying cutting-edge technologies and promoting their eventual use in Hungary. The members of the working group will include associations and universities, domestic companies operating in the sector, and the Ministry for National Economy, while on the Chinese side, it will include the MIIT and the companies on its “White List.”
Márton Nagy also met with representatives of the Chinese Ministry of Finance, where financial cooperation between the two countries was discussed, as well as the institutional transformation resulting from the merger of the Hungarian Ministry for National Economy and the former Ministry of Finance.
The minister emphasized that Hungarian economic policy focuses on investment-driven growth, improving competitiveness, and strengthening technological sovereignty. The government’s goal is for the Hungarian automotive industry to be prepared for the challenges of the future and to operate in a competitive and sustainable manner, which requires the active participation of industry players. To achieve this, it is essential to apply cross-sectoral cooperation in the field of regulation, apply standards and interoperability initiatives, and increase technology transfer, the minister explained.
Via MTI, Featured image: Hungary Today
