Cooperation conference held to promote economic cooperation between Hungary, Hubei Province

A cooperation conference was held on Tuesday at the ongoing second China International Supply Chain Expo (CISCE) in Beijing in an effort to promote economic cooperation between Hungary and central China's Hubei Province.

As the Country of Honor, Hungary has showcased its leading industries, unique resources, and national brand image at the country's exhibition booth.

Meanwhile, as province of honor, Hubei is bringing 28 enterprises to showcase their products through 70 exhibits.

As the only event jointly organized by the Country of Honor and the Province of Honor, China (Hubei) - Hungary International Supply Chain Cooperation Conference was held to promote economic cooperation between the two sides.

Since the beginning of this year, Hubei's imports and exports to Hungary have increased by 8.1 percent, which is a reflection of China's high-level opening up.

"Today, China stands as Hungary's most important trading partner outside Europe. Since 2015, bilateral trade turnover has nearly doubled, reflecting a partnership built on trust, mutual benefit and a shared vision for a sustainable goal," said Jenei Gabor, CEO of Hungarian Export Promotion Agency.

This year also marks the beginning of the upgrade of ties between China and Hungary.

China and Hungary decided on May 9 to elevate bilateral relations to an all-weather comprehensive strategic partnership for the new era.

The decision was announced during the talks between visiting Chinese President Xi Jinping and Hungarian Prime Minister Viktor Orban.

The China Council for the Promotion of International Trade (CCPIT), a national foreign trade and investment promotion agency, said that it will continue to serve as bridge between enterprises and policies, and facilitate more Hungarian products to enter into China.

"The CCPIT will fully leverage its role in connecting governments and enterprises, integrating domestic and international markets, and facilitating supply and demand. It will actively assist more high-quality Hungarian products in entering the Chinese market," said Ren Hongbin, CCPIT chairman.

The results are obvious as Hubei Province has reached a large number of cooperation deals during the expo, including 44 signed projects, ranging from new energy vehicles, high-end equipment, to artificial intelligence and more.

Compared with the previous edition in 2023, this year's CISCE boasts a higher number of exhibiting companies, more international participants, and a larger crowd of visitors.

With the 620 companies and institutions on board from 69 countries, regions and international bodies, the lineup includes 78 Fortune Global 500 firms, 86 Chinese Fortune 500 entities, and an anticipated attendance of professionals from over 100 countries in political, business and academic circles.

Cooperation conference held to promote economic cooperation between Hungary, Hubei Province

Cooperation conference held to promote economic cooperation between Hungary, Hubei Province

The situation still remains tense along the Israeli-Lebanese border although Israel and Hezbollah have reached a ceasefire agreement that took effect on Wednesday.

Israel's security cabinet on Tuesday night approved a ceasefire deal with Hezbollah, paving the way for an end to a nearly 14-month conflict between the two sides which, according to Lebanese health authorities, has killed 3,823 people and wounded 15,859 others in Lebanon.

The ceasefire took effect at 4:00 Wednesday, and over the next 60 days, the Lebanese army will regain control of its territory, while Israel will gradually withdraw, and civilians will be able to return home.

However, a China Media Group (CMG) reporter who went deep into Israel's northern border saw fewer vehicles driving on the road, and felt that more interference was encountered in telecommunications including the use of the GPS, which is a countermeasure by the Israeli side to disrupt Hezbollah's missile launches, indicating the entire area near the Israel-Lebanon border remains in a relatively high state of alert.

At Kiryat Shmona, one of Israel's northernmost towns, the Israel Defense Forces (IDF) has not lowered public security defenses in this place.

Israeli media have analyzed that the implementation of the ceasefire agreement is still full of uncertainties, and the possibility of a conflict cannot be ruled out if the agreement breaks down.

Kiryat Shmona, one of Israel's northernmost towns which is just three or four kilometers away from Lebanon, is one of the areas most severely attacked by Hezbollah rockets and missiles before the ceasefire. In previous clashes between Israel and Hezbollah before the ceasefire, people there could hear the sound of the Israeli army firing long-range artillery almost once every few minutes, including some sporadic gunshots and the sound of some Israeli drones hovering in the air for a long time. After the ceasefire, everything seems to have returned to somewhat calm.

However, the CMG reporter could still hear loud explosions, possibly from artillery firing, in Kiryat Shmona. Local media reports said the Israeli army discovered signs of activities of so-called Hezbollah militants in a village in southern Lebanon, and then bombarded the area with long-range artillery.

It is not clear what impact this move will have on the implementation of the ceasefire agreement, but it also fully illustrates the complexity of the implementation of the agreement.

Tensions remain on Israel-Lebanon border amid Israeli-Hezbollah ceasefire