Serbia strengthens economic ties with Hungary and China

Serbia is strengthening its economic ties through significant partnerships with both Hungary and China, focusing on infrastructure, energy, and industrial manufacturing.

Economic relations with Hungary have expanded beyond trade to include deep integration in energy, banking, and agriculture. In 2025, trade turnover between the two nations reached approximately 3.4 billion euros. Key Hungarian investors in Serbia include MOL, which operates an extensive fuel station network, and OTP Bank, a major player in the Serbian banking sector. Major infrastructure projects, such as the Belgrade-Budapest high-speed railway and a planned oil pipeline, are central to this cooperation.

Simultaneously, strategic partnerships with China have led to substantial industrial investments. Approximately 2,000 companies with Chinese capital operate in Serbia, with the 37 largest firms having invested roughly 7.7 billion euros and employing over 40,000 people. Notable examples include HBIS Group’s management of the Smederevo steel mill and Zijin Mining’s operations in Bor. Recent agreements signed in May 2026, valued at over 953 million euros, are expected to create nearly 1,700 new jobs, with significant investments also planned for automotive and technology sectors in cities like Zrenjanin and Niš.