Countries

Hungary

People's Daily app

23:27, July 11, 2019

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Hungary is a country in Central Europe. It borders Slovakia to the north, Ukraine to the northeast, Romania to the east, Serbia to the south, Croatia to the southwest, Slovenia to the west and Austria to the northwest. The border is 2,246 kilometers long. It has a continental climate.

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Area: 93,030 square kilometers

Population: 9.798 million (2017)

Capital: Budapest

GDP: $129.3 billion (2017)

Currency: Forint (HUF)

National holiday: National Day – August 20

Language and religion:

The official language is Hungarian. The inhabitants are mainly Catholic and Protestant.

Hungary is an OECD high-income mixed economy. Its strategic position in the heart of Europe makes it increasingly important as a regional distribution center. According to the 2017 IBM Global Location Trends report, Hungary ranks among the world’s top ten destinations for foreign investment in two categories:

Hungary is the 9th biggest investment destination country in the world in terms of job creation per million inhabitants.

Hungary ranks 5th globally in terms of average job value of investment projects.

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China and Hungary

The two countries established diplomatic relations on October 6, 1949. Since the establishment of diplomatic ties, the friendly relations between the two countries have been developing in an all-round way, with frequent exchanges of visits by leaders and other forms of exchanges, strengthened cooperation in various fields and further deepened friendship between the two peoples. The two sides have supported and cooperated with each other in international affairs.

As the first European country to sign a cooperation document with China on the Belt and Road Initiative (BRI), Hungary's economic ties with China have prospered in recent years.

With a steady growth momentum in trade over recent years, Hungary is China's third largest trading partner in Central and Eastern Europe, and China is Hungary's largest trading partner outside the EU.

According to Chinese statistics, in 2018, the bilateral trade volume between China and Hungary reached a record high of $10.88 billion, an increase of 7.5 percent over the previous year. Among them, China's imports from Hungary were $4.34 billion, an increase of 6.5 percent year on year, while China's exports to Hungary were $6.54 billion, a yearly increase of 8.1 percent on year.

China and Hungary have close cooperation in the fields of culture, education, science and technology. The exchanges and cooperation between the two countries in tourism, military affairs and other fields have been developing continuously. Chinese tourists to Hungary exceeded the quarter million mark in 2018.

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