During a recent visit to China by a Serbian state delegation, agreements were signed for investments worth around €953 million, which will create nearly 1,700 jobs in Serbia.
Amid global economic turbulence, lower inflows of foreign direct investment and the departure from the Serbian market of around a dozen foreign companies struggling with poor business performance, economists say that news of new Chinese investments is a real source of encouragement and a significant boost to the development of the Serbian economy.
As long as there is a risk that oil prices could break through the “ceiling” of $100 per barrel and global supply chains could be disrupted by the war in Iran, experts are clear that it is unrealistic to expect a significant inflow of Western capital into Serbia due to increased business risks. When it comes to China, however, the situation is different, thanks to the mixed-economy model pursued by the ruling Communist Party. China’s socialist market economy, its official economic model, offers domestic companies, whether state-owned or private, numerous incentives that Western companies do not have. Beijing views Serbia and the wider region as a gateway that will provide Chinese products and companies with quick and easy access to the EU market, and it is clear that it has no intention of abandoning its investments even at a time when other investors are showing considerable caution.
President of the Serbian Chamber of Commerce Marko Čadež stressed that Chinese investments in Serbia have gone through several stages, from infrastructure and energy, through the metals industry, to the automotive sector, and that the country is now entering a new and most technologically demanding phase involving robotics and advanced solutions. In this context, he highlighted plans to build a humanoid robot factory in Serbia, stressing that it would be the only facility of its kind on the European continent. The project is being developed by Agibot in cooperation with the Mint Group, which already operates in Serbia. The Serbian delegation signed two new agreements in China with the Mint Group, a global leader in the design and manufacture of automotive parts, structural components and aluminium battery housings for electric vehicles. The first agreement provides for an investment of €135 million and the creation of 600 new jobs in Loznica. The second involves an investment of €91 million and the creation of another 220 jobs in Šabac.
Million-Euro Investments in Manufacturing
Mint has operated in Serbia since 2018 and has so far invested in two major industrial parks in Loznica and Šabac, with total investments exceeding €700 million, and employs around 3,300 workers.
An agreement was also signed with BMTS Technology, a manufacturer of turbochargers and electric auxiliary systems for passenger and commercial vehicles, focusing on automation, with an investment worth €13.3 million.
An agreement was signed with Seoyon Automotive, one of China’s leading manufacturers of automotive lighting systems, including LED headlights, rear lights and lighting modules, for an investment worth €77 million and the creation of 100 new jobs in Niš.
A new €566 million investment by Linglong Tire will create 400 new jobs in Zrenjanin. Linglong has operated in Serbia since 2019 and is China’s largest tyre manufacturer and one of the world’s top 10 manufacturers of tyres for cars, trucks and special-purpose vehicles.
Yusei will also invest €27 million in Niš, creating 280 new jobs. Yusei is a leading Chinese manufacturer of high-precision automotive plastic components, injection moulds and chrome-plated components.
Bojan Stanić, Deputy Director of the Serbian Chamber of Commerce’s Sector for Strategic Analysis, Services and Internationalization, told NIN Diplomacy that the agreements signed in China represent significant support for further economic activity in Serbia. “Over the past two years, foreign direct investment has almost completely stopped flowing in, so new investments by Chinese companies bring optimism that things will improve. Another important point is that, in this new wave of Chinese investment, Serbia is also attracting investments based on the development of high technologies, which is of great importance for the country’s economy,” our interviewee said.
New Jobs Are Essential
Ljubodrag Savić, a professor at the Faculty of Economics in Belgrade, told NIN Diplomacy that the greatest significance of the announced Chinese investments lies in the fact that they will create much-needed new jobs. “Unfortunately, we have lost some jobs in recent years because some Western investors closed their factories in Serbia and left due to the crisis. That is why it is excellent news that the Chinese are ready to make new investments, including in high technology. First and foremost, I am referring to the robot factory,” Savić explained.
Ivica Cvetanović, president of the Confederation of Free Trade Unions, told NIN that the intention of Chinese companies to invest in new facilities and expand existing ones is welcome. “This will create new jobs. At the moment, Serbia has a large number of so-called low-cost companies, such as those producing cables for the automotive industry. Instead, in the period ahead, we need high-tech investments that create added value. That is why Mint’s intention to manufacture humanoid robots in Serbia is particularly interesting, but also beneficial,” Cvetanović stressed. He also emphasized the importance of Chinese companies continuing to invest despite the global economic crisis, which has led some foreign investors to shut down their facilities in Serbia. “In such a situation, every investment that increases the number of jobs and brings revenue into the state budget is a major benefit. On the other hand, it is essential to insist that employees at these factories receive adequate wages, that Serbian labour legislation is respected and that trade union organization is allowed. Some Chinese companies, it should be recalled, have gained a poor reputation in recent years because of their treatment of employees, but it should also be said that there are Chinese companies operating here that have proven to be responsible and good employers,” Cvetanović said.
Strategic Partnerships in the South
It should also be noted that, during his stay in China, Vučić discussed with his hosts the possibility of strategic partnerships involving two major companies in southern Serbia, Jumko and Simpo, but did not reveal the name of the company to which the proposal had been made.
Stanić points out that Jumko and Simpo employ a large number of people in the Pčinja District and could significantly improve their operations through partnerships with Chinese companies. “These are companies whose workers are not highly qualified, while much of the equipment they use is outdated. These companies need to be modernized, and the Chinese can provide that. Whether this will be done through a strategic partnership in which the state retains part of the ownership, or whether the two companies will be fully transferred into the hands of Chinese partners, is something that will be discussed,” Stanić stressed.
Cvetanović also believes it is positive that, during the Serbian delegation’s visit to China, an initiative was launched to attract Chinese capital to Serbian companies such as Jumko and Simpo, as this could provide a long-term solution to the employment issue in the Pčinja District. “The best solution would be for the strategic partnership to be structured in such a way that the Serbian state remains the majority owner, or, as a minority shareholder, retains a so-called golden share, allowing it to decide on all important matters concerning the company,” Cvetanović said.
A Giant from the East
There are currently around 2,000 Chinese-capital companies operating in Serbia, employing 27,000 people, with as many as 75% of them working for the 20 largest companies.
The title of Serbia’s largest exporter belongs to a Chinese company, Zijin, which has been present in Serbia since 2018, when it took over the former Serbian industrial giant RTB Bor. It officially began operating as the new owner in 2019 and now has full control over the mining complex in Bor through Zijin Copper, which produces copper, gold and other precious metals. Through its sister company Zijin Mining, it also operates the Čukaru Peki mine near Bor, one of the richest copper and gold mines in the world.
When it acquired a 63% stake in the former RTB Bor, Zijin paid $350 million for the recapitalization, while it paid Canadian company Freeport $390 million to acquire the Čukaru Peki mine. Since its arrival in Serbia, the Zijin Group has invested €4.9 billion through its two companies in modernisation, production expansion and environmental projects in Bor and Majdanpek.
A Chinese company also holds second place in the exporter rankings: the HBIS Group, which acquired the assets of the Smederevo steelworks in April 2016 for €46 million. Since then, HBIS has made investments worth around €300 million, most of which have been directed towards refurbishing facilities, installing new industrial filters, constructing a new sinter plant and developing environmental protection systems in Smederevo.
Between 2016 and 2025, Chinese direct investment in Serbia exceeded €7 billion, while most Chinese companies operating in Serbia are active in mining and construction.
Source: NIN, 12.08.2026