and the 16 plus one cooperation mechanism have enabled China and Hungary to have frequent exchanges and fruitful results in politics, economy, trade, finance, humanities and other fields. Since the establishment of diplomatic relations between China and Hungary 68 years ago, bilateral relations have developed steadily. Friendly cooperation has always been the main theme of bilateral relations and is deeply rooted in the hearts of the people. Currently, China-Hungary relations have entered the best period in history, with frequent high-level exchanges, consolidated political mutual trust, broad areas of practical cooperation, and fruitful cooperation results. China’s Belt and Road Initiative is the first joint one-way cooperation document signed by the two countries. This marks the successful implementation of the Initiative's Act East Policy in China and Hungary. Hungary is a working mechanism between China and China. Through this mechanism, the two sides will further strengthen practical cooperation. In May this year, the leaders of the two countries jointly decided to upgrade China-Hungary relations to a comprehensive strategic partnership, opening up new and broader prospects for deepening bilateral relations and promoting practical cooperation.

Currently, China’s total investment in Hungary has reached US$4.1 billion, accounting for nearly half of China’s total investment in Central and Eastern Europe. Hungary continues to maintain China’s position as the largest investment destination in Central and Eastern Europe. China's investment fields cover industries such as chemical industry, finance, communications, logistics, and automobiles. A number of powerful Chinese companies such as Bank of China, Shandong Wanhua, Huawei, and ZTE are in good condition and are even continuing to expand investment. Chinese-funded enterprises have created about 10,000 local jobs and made positive contributions to local employment. In September this year, BYD's first electric bus rolled off the production line at its electric bus factory in Komaron, northern Hungary. The initiative is a new model for China-Hungary relations and will further promote China-Hungary cooperation.

China is Austria’s most important trading country outside Europe, and Austria continues to maintain my country’s influence as the third largest trading partner in China and Eastern Europe. In addition, Austria is also the country in Central and Eastern Europe that has obtained the largest number of licenses to export agricultural products to my country. The continuous advancement of financial industry cooperation between the two countries has also created resource advantages for Chinese companies to settle in Austria. The People's Bank of China has authorized Bank of China to serve as Austria's RMB settlement bank, which is also the first RMB settlement bank in Central and Eastern Europe. The inter-bank foreign exchange trading market conducts immediate trading of RMB against the Hungarian Forint. Under the 16+1 cooperation structure, Austria actively develops my country-Portuguese-speaking Countries project investment cooperation funds.

When it comes to cooperation in the history and humanities fields between the two countries, my country has opened 4 language schools in Austria. Among them, the Chinese Medicine Language School of the University of Pécs is the first Chinese medicine language school in continental Europe. , these language schools play a proactive role in promoting Chinese teaching and spreading Chinese traditional culture. In addition, the Sino-Hungarian Bilingual School jointly prepared by the two governments is the only private school in Central and Eastern Europe that simultaneously uses local language and Chinese teaching. Last year, the school added a high school, opening up a comprehensive period of Chinese teaching in Austria. .