New Development in the Belt and Road Initiative: A Case Study of Cooperation Between China and Hungary

Abstract

The Belt and Road Initiative (BRI) is one of the key topics of current research. Since the BRI was put forward in 2013, the number of research projects and achievements of the BRI has increased, the quality of research has improved, and the depth and breadth of research has increased. However, most of the research focus on macro studies, such as conceptual interpretation of the BRI, and less on micro studies, especially country studies, such as the study of the BRI in Hungary, where there is still a research gap. Therefore, the paper adopts the method of case analysis and data comparison to explore the new developments of China-Hungary exchange and cooperation by collecting data on the economic, cultural and policy achievements of China and Hungary nowadays. It also further examines the significance of the BRI and proposes several suggestions for its further high-quality development. The paper finds that there are many achievements in the construction of BRI. Since the outbreak of COVID-19, China-Hungary economic and trade cooperation has still maintained a growing trend, cultural and educational exchanges have been continuously deepened, and both governments have adopted positive policies and attitudes. The Belt and Road Initiative has had a profound impact on China, Hungary, and the world. For further high-quality development, it is recommended to focus on the digital economy, the green economy, and the construction of pivot cities.