China's construction of high-speed railway link between Serbia and Hungary gets go-ahead

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China has secured a deal to construct a high-speed train link between Serbian and Hungarian capitals that will cut travel time between Belgrade and Budapest from eight to less than three hours.

The 400-kilometer (250 miles) railway is part of China's ambitious plans to speed up the delivery of its exports to central Europe through Greece's port of Piraeus. The Belgrade-Budapest line is to be completed by mid-2017.

China's Prime Minister Li Keqiang attended the signing of rail and customs documents Wednesday by Serbian Prime Minister Aleksandar Vucic and his Hungarian counterpart Viktor Orban.

The ceremony took place at an economic summit in Belgrade between China and 16 central and eastern European states.