China's continued opening up creats more opportunities for Hungary

China's continued opening-up has opened the door to not only new export opportunities for Hungary, but also to joint innovation and technology partnerships that benefit both Chinese and global markets, said a senior official of the Hungarian Export Promotion Agency (HEPA).

HEPA organized the Hungarian National Pavilion at the 4th China-CEEC Expo and International Consumer Goods Fair, which concluded in Ningbo, China, on May 25. Up to 12 innovative companies from Hungary were showcased at that fair, representing key export industries such as food and beverage, agricultural technology, logistics, and cosmetics.

"Participation in expos like the China-CEEC Expo is vital," HEPA Chief Executive Officer Gabor Jenei said in a written interview. "These platforms offer direct access to Chinese buyers, distributors, and decision-makers while providing Hungarian SMEs (small and medium enterprises) with critical market exposure. They also foster mutual understanding and build trust-two pillars of long-term business success."

Reflecting on bilateral trade between China and Central and Eastern European Countries (CEEC), which reached a record 142.3 billion U.S. dollars in 2024, Jenei said, "This record figure is a clear reflection of the growing interdependence and complementary strengths between China and the CEE region."

Jenei said such an increase makes HEPA committed to further advancing this trend. "To that end, HEPA is actively working to expand Hungary's export footprint in China. We firmly believe that the 142.3 billion U.S. dollars milestone can be surpassed."

Jenei said China's continued high-level opening-up has created more favorable conditions for foreign firms. "It lowers administrative hurdles, improves access to digital platforms, and encourages high-quality foreign products in sectors like healthcare, smart agriculture, food safety, and green technologies," he said.

Beyond boosting exports, Jenei said such momentum is also driving joint innovation and tech partnerships in fields like AI, biotechnology, and digital solutions that serve both Chinese and global markets.

He cited the recent decision of Chinese electric vehicle giant BYD to establish a research and development center in Budapest as a strong recognition of Hungary's innovation. "Building on this momentum, Hungary aims to enter the Chinese market with high-value-added services and products," he said.

He also shared his observation of growing interest among Hungarian firms in establishing a more permanent presence in China, not just through exports, but also through targeted business development and local partnerships.

Looking ahead, Jenei expressed optimism about bilateral cooperation in areas such as medical technology, information and communications technology, smart agriculture, and environmental technologies. "We see the greatest potential in sectors where Hungary's research and development strengths align with China's market needs," he said.