On May 26, Chengdu became a hub for international trade and collaboration as it hosted the 20th Western China International Fair (WCIF). This year's event saw Hungary participating as the guest country of honor. The fair showcased a diverse range of Hungarian products, from fine wines and traditional costumes to cutting-edge high-tech innovations, capturing the attention of attendees eager to learn more about Hungary's offerings.

The participation of Hungary at the fair underscores the strengthening economic and technological ties between Hungary and China. A notable collaboration highlighted at the event is the hydrogen fuel tank developed jointly by John von Neumann University in Hungary and Chongqing University in China. This project reflects both countries’ commitment to advancing their technological capabilities and fostering sustainable solutions.

Dr. Attila Bata from John von Neumann University shared insights into the hydrogen fuel tank, explaining that the research and development team utilized advanced material simulations with a view to applying the technology in automotive and drone applications. He emphasized that with China's rapid advancements in new energy sectors, the market presents immense potential for international partnerships.

Hungary has positioned itself as a critical collaborator within the framework of the Belt and Road Initiative (BRI). The Hungarian consul general in Chongqing, Bálint Czégel, pointed out that Hungary was the first European nation to enter into a cooperation agreement with China under BRI. Significant collaborative progress has been made in China's western regions, highlighting the benefits of this longstanding partnership.

The establishment of the Chinese Hungarian Technology Transfer Center in Chongqing demonstrates the targeted efforts to enhance academic and industrial cooperation. This center, alongside the Tianfu International Technology Transfer Center in Chengdu, serves as a pivotal link in fostering innovation and knowledge exchange, emphasizing Hungary's proactive approach to collaboration with China.

China stands as Hungary's largest trading partner outside of Europe. Recent data indicates that the bilateral trade value reached approximately 16.2 billion U.S. dollars in 2024, reflecting an impressive 11.6 percent increase year-on-year. This growing trade dynamic exemplifies the increasing economic interdependence between the two nations.

At the WCIF, Hungarian enterprises are particularly geared towards the healthcare sector, responding to the vast market potential and demand for advanced medical solutions in China. For instance, 77 Elektronika Ltd., which entered the Chinese market in 2010, established a wholly-owned subsidiary in Suzhou in 2023, emphasizing the strategic significance of the Chinese market for diagnostic equipment.

Richard G. Mohr, managing director of the Suzhou subsidiary, articulated the tremendous growth opportunities seen in China, particularly in the western market. With a background that includes directing a Confucius Institute, Mohr expressed the importance of participating in the WCIF not only for business expansion but also for the invaluable learning experience it offers.

The five-day WCIF showcases over 3,000 enterprises from 62 countries and regions, presenting their latest innovations across a variety of sectors. Mohr commented on the impressive advancements in the Chinese medical equipment sector, suggesting that they are ripe for careful observation and study. His remarks echo the wisdom of a Confucius proverb: 'When three people walk together, one must be my teacher.'