Over 20 Chinese Companies to Invest $1.1 Billion in Serbia, Targeting Automotive, AI, and Robotics Sectors

On May 27, Serbian President Aleksandar Vučić announced that Chinese companies will inject an additional €940 million (approximately USD 1.1 billion) into Serbia, with funds to be disbursed starting July 2024. The investment will span multiple sectors, including automotive components manufacturing, humanoid robotics, energy, and artificial intelligence. This collaboration involves more than 20 Chinese enterprises, such as Minth Group, Shandong Linglong Tire, Changzhou Xingyu Automotive Lighting, Shanghai Zhiyuan Robotics, Weichai Power, Zhejiang Fort Tech, Jiangsu Ruian New Energy, and China Construction Fourth Engineering Division Corp., Ltd. Over the past decade, Serbia has attracted approximately €8 billion in Chinese direct investment and secured a similar amount in loans for infrastructure projects, including the Belgrade–Budapest railway. The China-Serbia Free Trade Agreement officially entered into force in 2024.