Chinese, Hungarian companies join forces to boost mutual development in energy sector

The past few years have witnessed increased cooperation between Chinese and Hungarian companies in the energy sector as both countries believe better growth prospects lie ahead.

The bilateral trade between China and Hungary has seen remarkable growth in recent years. Hungary has been expanding its investment in China as it sees positive growth prospects in the country.

For example, MVM Cooling Systems (China) Co., a subsidiary of MVM Group, Hungary's largest energy group, has completed over 16 projects in China over the past two decades, with a total installed capacity reaching 18,000 MW.

"China is one of the biggest economies in the world, with very rapid increase in power demand and power capacity. This drives also a good market for us. The Chinese market has always been is a strategic market for us and they will remain a strategic market for us also in the future," said Peter Karpati, chief executive officer of MVM EGI Zrt.

Chinese companies also consider the Hungarian market to be promising as many of them have been expanding their presence in the country. This is especially the case in the new energy sector.

Sunwoda Electric, a Chinese lithium-ion battery maker, has already started the construction of a power battery factory for electric vehicles in Hungary. This factory with a total investment of 1.9 billion yuan (about 263 million U.S. dollars) covers a total area of approximately 100 hectares and is expected to create more than 3,000 jobs for local people.

"China boasts advanced technologies and strong production capacity in the battery industry. As a European country, Hungary has low production costs and a relatively complete renewable energy supply chain. China and Hungary have broad space and huge potential for cooperation in the new energy sector," said Wang Qiao, general manager of Sunwoda Electric (Europe).

"The whole world is looking for green sustainability, and this kind of development. So it is very important to have this cooperation. And these factories can not only give a lot of people jobs or perks. It also can help other Hungarian companies," said Levente Horváth, director of Eurasia Center of the John von Neumann University.

Despite the rhetoric of so-called "overcapacity" or "de-risking" hyped up by politicians in the European Union, Hungarian politicians said that their country doesn't identity with these arguments.

They believe that the European economy will suffer a huge blow if the block cuts its economic ties with China.

Chinese, Hungarian companies join forces to boost mutual development in energy sector

Lai Ching-te has sent a dangerous signal of seeking "Taiwan independence" and making provocations to undermine cross-Strait peace and stability in his first speech upon assuming the role of Taiwan region's new leader on Monday, according to scholars and commentators.

Many in China's Taiwan region have pointed out that while Lai Ching-te's speeches have repeatedly emphasized the importance of peace for Taiwan, they see no concrete action on how to achieve it.

"He does not listen to public opinion and displays great arrogance. He blatantly intends to continue pursuing the 'two states' theory and will attempt to solicit U.S. support for 'Taiwan independence'. [He] disregards the desire of Taiwan for easing the situation in cross-Straits relations, which will create new factors that could lead to tensions in the Taiwan Strait," said You Zixiang, a professor at Shih Hsin University.

"After listening to his entire speech, I feel that not only did he fail to express any genuine intentions for peaceful coexistence and common prosperity, but he used the concept of peaceful coexistence and common prosperity as a cover and disguise for creating a 'peaceful division'," said Wang Bingzhong, a commentator in the Taiwan region.

In the Taiwan region, there is growing concern across various sectors that future opportunities for communication between the two sides of the Taiwan Strait will become increasingly scarce.

"[The Democratic Progressive Party (DPP) authorities] are deepening the roots of political hatred. I think that since Taiwan has already experienced the tragic 'White Terror' in the past, why should we embark on a journey of 'Green Terror'?" said Chi Chia-Lin, president of the Reunification Alliance Party.

"I'm actually very concerned. Lai Ching-te's staffing arrangements have revealed his extreme ideology, and it seems that he will continue to put stress on cross-Strait relations," said Shi Xueqin, a student at Chi Nan University in Taiwan.

Lai sends dangerous signal in first speech as Taiwan's new leader: scholars, commentators