At the banquet, the host and guest of honor talked very happily.
Tips
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Formal — used for state visits, banquets, book fairs and trade expos. The compound 主宾国 zhǔbīn guó ('guest-of-honor country') is the standard format for international fairs.
mistakes
Don't confuse with 主人 zhǔrén ('host'). 主宾 = 'main guest', i.e. the most important among the guests. The 主 here modifies 宾, not the opposite.
