Chinese choose neighbors over Serbia - Asian dragon increasingly invests in Hungary

On the list of the most popular investment destinations for the Asian giant in this part of Europe, Serbia is slowly losing its top spot to Hungary.

The first step in that direction is recent signing of an agreement between Hungary and China on cooperation in the development of trade and road network within the Silk Road.

Serbian experts expected the project called "One Belt, One Road," which includes the construction of 370-kilometer Budapest-Belgrade railroad, to be coordinated from the Serbian capital instead of Budapest.

This news came as a big surprise as it is likely that Budapest may become a regional center for directing EUR 10 billion worth of investments from China.

However, the Serbian government claims there's no reason for worry and that everything goes as planned.

- Belgrade should be the center for infrastructure, while Budapest should become a regional hub for China's activities in Europe - Serbian Deputy Prime Minister Zorana Mihajlovic explains.