Hungary's Foreign Minister Peter Szijjarto announced during a visit to China that the country's national vaccine center will produce China's Sinopharm jab as well as a Hungarian COVID-19 vaccine.

The international cooperation is the latest example of growing relations between the two nations, with the foreign minister also announcing two large Chinese banks will soon appear in Hungary.

Other investments are also in the negotiating phase, such as one that involves electric cars.

This is the 12th time Hungary's foreign minister has held bilateral talks with his Chinese counterpart – which he says shows the parties attach great importance to developing cooperation.