Chinese President Xi Jinping (right) and Hungarian Prime Minister Viktor Orban in Budapest before their talks on May 9. (Source: Reuters)

The decision was announced during talks between Chinese President Xi Jinping and Hungarian Prime Minister Viktor Orban in Budapest during the Asian nation's leader's visit, Xinhua news agency reported.

Speaking after the talks, Xi Jinping said that China is willing to jointly promote the development of high-level relations with Hungary and that the friendship between the two countries is not targeted or directed by any third party.

According to him, the two sides need to continue to maintain trust and a policy of mutual support, taking the decision to upgrade relations as an opportunity to add strong momentum to bilateral cooperation and open up a brighter future for both peoples.

The Chinese president said that Beijing-Budapest relations are at their most brilliant stage in history and the comprehensive strategic partnership has maintained a high level of development. By deepening mutual trust and effective cooperation, the two countries have become a model for efforts to build a new type of international relations.

Earlier, at the meeting with the Chinese President, Hungarian President Tamas Sulyok noted that bilateral cooperation in many fields has achieved positive results since 2017, when the two countries established a comprehensive strategic partnership.

According to Mr. Sulyok, Hungary wishes to promote deeper exchanges and closer cooperation with China, consolidate development strategies and promote key cooperation projects to bring more benefits to the people.

Hungary is the final stop on Xi Jinping’s three-nation tour of Europe from May 5 to 10, aimed at boosting trade and investment ties. The Chinese leader’s previous stops were in France and Serbia.

Ahead of the Chinese President's visit, Hungarian Foreign Minister Péter Szijjártó announced that the two countries will sign at least 16 bilateral cooperation agreements on infrastructure, nuclear energy and the automotive industry.