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China's top legislator hails mutual trust, win-win cooperation with Hungary

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China's top legislator hails mutual trust, win-win cooperation with Hungary

2025-07-29 20:48 Last Updated At:21:37

China's top legislator Zhao Leji hailed the mutual trust and win-win cooperation between China and Hungary during an official goodwill visit from July 24 to 28.

Zhao, chairman of the National People's Congress (NPC) Standing Committee, held separate meetings with Hungarian President Tamas Sulyok and Prime Minister Viktor Orban, and held talks with Speaker of the Hungarian National Assembly Laszlo Kover in Budapest during the visit.

When meeting with Sulyok, Zhao conveyed President Xi Jinping's cordial greetings, noting that President Xi's successful state visit to Hungary in May 2024, which elevated China-Hungary relations to an all-weather comprehensive strategic partnership for the new era, has opened up broader prospects for friendly cooperation between the two countries.

China is willing to work together with Hungary as good friends with mutual respect and mutual trust, good partners with mutual benefits and win-win results, and good brothers who understand and care for each other, he said.

Zhao said China will join hands with Hungary to promote in-depth alignment between the Belt and Road Initiative (BRI) and Hungary's "Eastern Opening" strategy, and complete the construction of landmark projects such as the Hungary-Serbia Railway with high quality. China encourages and supports more cultural, local, media, youth and other exchanges between the two countries to promote closer people-to-people ties.

Sulyok, for his part, asked Zhao to convey his sincere greetings to Xi.

He said that Hungary and China have been developing bilateral relations on the basis of mutual respect, mutual trust, mutual benefit and win-win results, which is of great significance and contemporary value.

The Hungarian president said that participating in the BRI is of vital importance to Hungary, and the Hungary-Serbia Railway is a model major project of cooperation between the two sides.

He also voiced hope that both sides will continuously deepen cooperation in areas such as green energy, artificial intelligence, digital economy, as well as humanities, youth and education.

When meeting with Orban, Zhao said that in recent years, China-Hungary relations have achieved leapfrog development and are at their best in history. China appreciates Hungary's adherence to the one-China principle and is willing to continue strengthening mutual support with the Hungarian side, Zhao said.

Zhao said China welcomes more high-quality agricultural and food products from Hungary, and expects Hungary to provide policy support and security guarantees for Chinese enterprises in Hungary.

As this year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union (EU), Zhao said China hopes and believes that Hungary will continue to play an active role in promoting the healthy and stable development of China-EU relations.

China will also work with Hungary to promote the cooperation between China and the Central and Eastern European Countries, Zhao said.

Orban said that President Xi's state visit to Hungary last year was a milestone in the history of Hungary-China relations. He said the two countries' long-standing histories and cultures, both featuring independence and autonomy, serve as a solid foundation for their traditional friendship.

He attributed China's rise to its own efforts, noting that to develop friendly cooperation with China is Hungary's strategic choice, which will help Hungary to upgrade technology and explore markets.

During his talks with Kover, Zhao said the NPC is willing to work with the Hungarian National Assembly to advance the implementation of the outcomes of President Xi's visit last year, and to contribute to the high-level and high-quality development of China-Hungary relations.

The two nations should strengthen exchanges at all levels of the legislature, and formulate, revise and approve legal documents conducive to bilateral cooperation in a timely manner, Zhao said, calling on the two sides to strengthen coordination and cooperation in multilateral forums such as the Inter-Parliamentary Union.

For his part, Kover said that a growing China helps promote world peace and development and contributes to building a multipolar world, which is completely in line with Hungary's interests. The Hungarian National Assembly is willing to work with the NPC to provide firm support for mutually beneficial cooperation between the two countries.

After the talks, Zhao and Kover jointly met the press and witnessed the signing of a memorandum of cooperation between the legislative offices of China and Hungary.

During the visit, Zhao inspected the China Cultural Center in Budapest, Hungarian section of Hungary-Serbia Railway project, and a logistics park. He also laid a wreath at the Millennium Monument in Budapest.

China's top legislator hails mutual trust, win-win cooperation with Hungary

China's top legislator hails mutual trust, win-win cooperation with Hungary

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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