Central and Eastern European markets welcome Chinese products

The 2024 China Brand Goods (Central and Eastern Europe) Exhibition will be held in Budapest, Hungary from June 13th to 15th. This exhibition is hosted by the Bureau of Foreign Trade Development of the Ministry of Commerce of China and organized by the China Europe Commercial and Logistics Cooperation Park. More than 270 enterprises from 10 provinces and cities, including Shandong, Shanxi, Liaoning, Zhejiang, Gansu, Jiangxi, Fujian, Jilin, and Anhui, participated in the exhibition, with a total exhibition area of 10000 square meters.

The person in charge from Zhejiang Haoxing Company brought multiple electric bicycles to participate in the exhibition. He told reporters, "Chinese products with good quality and good prices have a great advantage in the Central and Eastern European markets. In the transaction process, language is no longer a problem, and with the help of translation software, cooperation intentions can be achieved."

The exhibits at this exhibition cover six categories: mechanical and electrical products, hardware and building materials, new energy, light industrial products, textiles and clothing, and agricultural products. Among them, mechanical and electrical equipment, as well as components, which are in line with the local market and the trade hotspots between China and Hungary, account for 50% of the total.

The China Brand Goods (Central and Eastern Europe) Exhibition has been successfully held in Hungary for 6 sessions since 2015, becoming an important platform for enterprises and merchants in Central and Eastern Europe to understand and purchase Chinese brand goods, and to conduct trade negotiations and investment cooperation with Chinese manufacturers. Compared to previous exhibitions, this exhibition has a wider coverage, more exhibitors, and a further expansion of exhibition area. This exhibition received nearly 8000 professional merchants from Central and Eastern European countries such as Hungary, Poland, Slovakia, and Serbia, with a cumulative visitor flow of about 25000 people. The on-site transaction amount was nearly 20 million US dollars, and the intended transaction amount was nearly 90 million US dollars. Wu Jiang, CEO of the China Europe Business and Logistics Cooperation Park, said after the exhibition, "The number of attendees increased by 15% year-on-year, and the intended transaction volume also increased by 20%, showing a trend of annual growth. This indicates that Chinese brands are becoming increasingly popular in the Central and Eastern European markets."

This exhibition has added new energy, electric vehicles, and energy storage products, which have received high attention during the exhibition period. The booth of Chinese electric vehicle brand CENNTRO is located at the entrance of the exhibition hall, with a constant flow of visitors from opening to closing. "There are many high-quality products appearing for the first time at the exhibition, and Chinese products have achieved significant development in terms of quality, quantity, and display," said Pat Elno, Chairman of the Hungarian Hungarian China Economic Chamber of Commerce

Fabian Guergay, State Secretary for Industrial Policy and Technology of the Hungarian Ministry of Economy, is very optimistic about Hungary China cooperation. He said that Hungary is a strategic gateway of the European Union, and China has technological strength and a good consumer foundation, making it an important partner for Hungarian enterprises. Hungary encourages enterprises to share knowledge and improve trade relations, and hopes that Hungary and China can engage in comprehensive cooperation in the future.

Deng Bo, Deputy Director of the Foreign Trade Development Bureau of the Ministry of Commerce, put forward several suggestions for organizing exhibitions and deepening cooperation: firstly, to deeply implement the important consensus reached by the leaders of China and Hungary, further close exchanges, and expand cooperation areas; Second, give full play to Hungary's geographical advantages as a country jointly building the "the Belt and Road", and further make good use of international logistics supply chain systems such as China Europe Express; Thirdly, while promoting Chinese brands, Chinese enterprises should actively introduce Hungary's advantageous products, jointly promote trade balance between the two sides, further explore investment opportunities, and help the ship of economic and trade cooperation between the two countries steadily move forward on the "golden channel".

In 2024, Hungary will vigorously develop solar power plants and launch a "solar+" project at the beginning of the year aimed at supporting the installation of solar panels and storage systems in households. The Hungarian people have expressed support for the installation of solar panels in households. During this exhibition, products such as energy storage battery cabinets launched by Shandong Inspur Company were widely welcomed by the market.

Wu Jiang said, "After the exhibition, exhibits such as the energy storage battery cabinet of Shandong Inspur Company and the latest generation of energy storage and charging robot Lightning Treasure developed and produced by Shanghai Silkworm Robotics Technology Co., Ltd. will be exhibited year-round at the Brand Exhibition Center in Budapest using the China Europe Business and Logistics Cooperation Park. This not only allows customers from Central and Eastern Europe to experience its various functions up close, but also continues to explore its market."

It is reported that participating companies can also utilize the independent operation of China Europe freight trains, sea rail intermodal transportation, air freight, overseas warehouses, etc. in the China Europe Business and Logistics Cooperation Park to continue to provide international logistics, overseas warehousing, distribution and other services in Hungary and Central and Eastern Europe. Meanwhile, as a supporter of this exhibition, China Construction Bank Hungary Branch utilizes the "CCB Global Matchmaker" B2B cross-border intelligent matchmaking platform to provide free cross-border matchmaking services. In the form of "technology+data", it builds an open sharing ecosystem and provides business opportunity release, intelligent matching, and comprehensive service solutions for domestic and Central and Eastern European enterprises.

Data shows that the bilateral trade volume between China and Hungary reached 14.52 billion US dollars in 2023, an increase of 42% compared to 2019, with an average annual growth rate of over 9%, exceeding the average annual growth level of trade between China and other EU member states. Hungary continues to maintain China's position as the third largest trading partner in Central and Eastern Europe, and China also maintains its position as Hungary's largest trading partner outside of Europe and the world's second largest source of imports. Chen Yiwei, Economic and Commercial Counselor of the Chinese Embassy in Hungary, stated that this exhibition will inject new momentum into practical economic and trade cooperation between China and Hungary, as well as between China and Central and Eastern European countries. She hopes that entrepreneurs from both sides can discuss cooperation and plan for the future together, so that the results of cooperation can better benefit the people of both sides. (Zhai Chaohui, reporter of Economic Daily in Budapest)