Chinese leaders ended two days of meetings with leaders from eastern Europe on Tuesday with promises of $3bn in investment funds, in a diplomatic push welcomed in the region but viewed warily in Brussels.
The summit, which brought together Li Keqiang, China’s premier, and 16 leaders from central and eastern Europe countries in Budapest, Hungary’s capital, has highlighted Beijing’s ambitions to extend its influence in the region.
Even before the “16+1” summit, roughly $15bn in investment by Chinese companies, backed by state banks, had been promised to the region since 2012, according to one estimate.
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