"China and Hungary have strong economic complementality and the two nations share a very good foundation for the economic cooperation," visiting Chinese top legislator Wu Bangguo said at a business seminar for Chinese and Hungarian entrepreneurs, expressing his hope that the companies of the two countries could continue to increase mutual understanding and create new approaches for furthering cooperation.

    Wu, chairman of the Standing Committee of China's National People's Congress, noted that the Chinese government would give its full supports and create favorable conditions for the two countries' businesses to expand cooperation based on the principles of equality and mutual benefit.

    China would encourage the competitive Chinese companies to invest and develop their business in Hungary and welcomes more investment from Hungarian enterprises, Wu told the seminar.

    He recognized Medgyessy's important contribution to the growth of the bilateral ties, calling the former Hungarian Prime Minister "an old friend of Chinese people."

    Medgyessy said that a sound bilateral relations would benefit both sides, noting that it is highly necessary that the two countries to join in hands to promote cooperation in some cutting-edge fields such as technological innovation, prevention and treatment of epidemic disease, and environmental protection as well as strengthen that in the traditional fields.

    As a guest of Hungary's House Speaker Szili Katalin, Wu arrived in Budapest on Tuesday afternoon. It is the first time for a Chinese top legislator to visit the East European nation.

    Hungary is the second leg of Wu's three-nation tour to Africa and Europe, which will also take him to Poland. Prior to Hungary, Wu paid a successful visit to Egypt.