Hungarian Academy of Sciences President Laszlo Lovasz delivers a speech at the launching ceremony of the China-CEE Institute in Budapest, Hungary, on April 24, 2017. (Xinhua/Ye Pingfan)

BUDAPEST, April 25 (Xinhua) -- The China-CEE Institute was launched here on Monday, which is China's first think tank independently registered in Europe.

Huang Ping, director of the Institute of European Studies of Chinese Academy of Social Sciences, serves as president of China-CEE Institute. Wang Weiguang, President of Chinese Academy of Social Sciences, is its honorary president.

"We will be very happy and willing to work with experts, scholars and think tanks from Hungary and other Central and Eastern Europe (CEE) countries in order to promote mutual understanding and intellectual cooperation," Wang said.

He added that under the 16+1 mechanism, the China-CEE Institute would promote people-to-people exchanges through field study, joint research, conferences, seminars and lectures.

The 16+1 mechanism is a platform created in April 2012 by China and 16 Central and Eastern European (CEE) countries.

An academic committee will be set up, and leading scholars from China and CEE countries will be members of the committee, Wang said.

China's Ambassador to Hungary Duan Jielong said the institute represents a creative step in deepening cooperation among think tanks of China and CEE countries.

Hungarian Academy of Sciences Laszlo Lovasz expressed his hope that the institute will provide additional opportunities and new sources for both Chinese and Central European researchers to fulfill their research interests.

"I am really proud that the institute will be based here in Budapest," Lovasz said.

The launching ceremony was hosted by Chinese Academy of Social Sciences and 16+1 Think Tanks Network.

After the launch ceremony, experts and scholars discussed the common challenges and solutions of China-CEE cooperation.