Márton Nagy, the national economy minister, held talks with Ren Shengjun, executive director and vice president of the Export-Import Bank of China, in Budapest on Monday, his ministry said. Nagy and Ren reviewed the most important aspects of Hungarian-Chinese relations and the status of the upgrade of the Budapest-Belgrade railway line financed by the bank, the national economy ministry said in a statement. The talks also touched on potential future joint projects such as the V0 rail project, the high-speed rail link between Budapest with Liszt Ferenc Airport, the development of the Hungary-Serbia border crossing station, the oil pipeline connecting to Serbia and the installation of charging stations promoting electromobility. The ministry said rail developments played an especially key role in achieving net-zero emission goals. It said Hungary had everything it needed to become a logistics hub for Chinese goods, arguing that the country had an “excellent” geographical location, developed infrastructure and a competitive investor environment. Chinese companies have invested 6,400 billion forints (EUR 16.2bn) in Hungary which are set to create 25,000 new jobs, the ministry said. Citing 2023 data, it said Hungary is China’s ninth most important trading partner, including the most important one outside Europe. China is a key economic partner for Hungary, Nagy said, adding that cooperation also needed to be strengthened in the area of finance. The most important Chinese banks have established a presence in Hungary, the minister said, adding there was a “good chance” to expand the circle of partners, which would make Hungary a top regional financial partner for China as well.