Hungary-Serbia Railway is the flagship project of cooperation between China and Central and Eastern European countries. The line runs from Budapest, capital of Hungary, to Belgrade, capital of Serbia, with a total length of 342 kilometers and a design speed of 200km/h. The existing railway line will be renovated and a second line will be added to form a double-track electrified railway facilitating fast passenger and freight transport.

　　  On November 25, 2013, when leaders from China and Central and Eastern European countries met in Bucharest, Romania Chinese Premier Li Keqiang, Hungarian Prime Minister Orban and Serbian Prime Minister Ivica Da jointly announced cooperation in upgrading the Hungary-Serbia Railway. On November 24, 2015, during the “16+1” Leaders’ Summit in Suzhou, witnessed by the premiers of China, Hungary and Serbia, the Chinese and the Hungarian governments signed the Agreement on Cooperation in the Development, Construction and Financing of Hungary Section of Hungary-Serbia Railway Project. The Chinese consortium signed the general cooperation contract on Hungary-Serbia Railway, Hungary Section with the Serbian government and enterprise representatives, marking the official start of the Project. On November 5, 2016, during the “16+1” Leaders’ Summit held in Riga, Latvia, the joint venture of China Railway International Co., Ltd. and China Transportation Construction Co., Ltd., affiliated to CHINA RAILWAY, signed a commercial contract on modernization of Hungary-Serbia Railway and reconstruction of Belgrade-Stara Pazova section with the government of the Republic of Serbia and Serbia Railway Infrastructure Co., Ltd., indicating the project entering the implementation phase. In November 2017, a commencement ceremony for the Belgrade-Stara Pazova section in Serbia was held.  In June 2018, the construction officially started.

        On March 19, 2022, the Belgrade-Novi Sad Section in Serbia was officially put into service.