The aim of this paper is to assess the main features of Chinese and Indian investments in Hungary and the role of the Hungarian Government’s Eastern Opening policy in the attraction of investments from these two Asian giants. This paper covers the sectoral distribution, modes of market entry and motivations of Chinese and Indian foreign direct investments. The automotive sector is the most attractive sector for investors from both countries. ICT manufacturing (electronics) and services and the renewable energy sector are also very attractive for Chinese companies. The same is true for IT/BPO services and the chemical sector in the case of Indian companies. Chinese and Indian companies enter the Hungarian economy mainly through green-field investments or acquisitions. Market-seeking and strategic asset-seeking motives are dominant in the case of investors from both countries. In the last decade, the Eastern Opening policy has positively influenced the investment decision (location choice) of several new Chinese and Indian investors and the further expansion of investments by Chinese and Indian companies located in Hungary.