General

China and Vietnam are good neighbors and friends connected by mountains and rivers, and good comrades and partners who share common aspirations and common destiny.   Cooperation in international trade such as climate change. This has pointed out the direction for China and Vietnam to further promote practical cooperation.

Pragmatic cooperation continued to deepen

China and Vietnam are close economic and trade partners. In recent years, China Vietnam economic and trade cooperation has constantly made new achievements. Even in the face of the adverse impact of the COVID-19, bilateral international trade and investment continue to grow rapidly, demonstrating the great resilience and development potential of bilateral economic and trade relations. In terms of trade, China is still Vietnam's largest trading partner, while Vietnam continues to be China's sixth largest trading partner, ranking first among ASEAN countries. According to Chinese customs statistics, in 2021, the bilateral trade volume between China and Vietnam will exceed 200 billion US dollars for the first time, reaching 230.2 billion US dollars, an increase of 19.7% over the previous year. From the perspective of investment, China's investment in Vietnam is mainly concentrated in processing and manufacturing industries, especially in electronics, mobile phones, computers, textiles and clothing, machinery and equipment and other industries.

The two sides also stepped up cooperation on key projects. In January this year, Hanoi Jiling Hedong Line Light Rail, the first urban light rail project in Vietnam contracted by Chinese enterprises, was completed, which epitomizes the steady progress of China Vietnam practical cooperation. Hanoi Jiling Hedong Line Light Rail is a landmark project of the "the Belt and Road" jointly built by China and Vietnam, which has played an important role in building a green and civilized city in Hanoi, improving urban traffic conditions, and facilitating the travel of Hanoi citizens.

It is understood that the 11th meeting of the China Vietnam Economic and Trade Cooperation Commission was held by video not long ago, and the two sides reached a series of consensus through pragmatic and friendly exchanges of views on cooperation in trade, investment, industrial chain supply chain and other fields, as well as multilateral and regional key economic and trade issues.

The industry generally believes that in the future, China and Vietnam will give full play to such convenient conditions as geographical proximity and complementary industrial advantages, promote the continuous upgrading of international trade cooperation between the two countries, and accelerate cooperation in key areas.

Create new cooperation highlights

On November 1, China and Vietnam issued the Joint Statement on Further Strengthening and Deepening the China Vietnam Comprehensive Strategic Partnership of Cooperation, which mentioned that the two sides agreed to actively explore exchanges and cooperation in green development, climate change, digital economy and other fields to create more growth points for China Vietnam cooperation.

It is understood that in recent years, the Vietnamese government has attached importance to the development of green economy and digital economy, promulgated a series of development strategies, policies, measures and action plans, encouraged enterprises to accelerate green transformation, supported the development and utilization of renewable energy and new energy, actively carried out green and low-carbon international cooperation, and promoted the development of digital platforms and infrastructure construction.

Zhang Jianping, deputy director of the Academic Committee of the Research Institute of the Ministry of Commerce, told the International Business Daily that green development is one of the directions for China to implement new development concepts and promote high-quality development, and also an important area of cooperation between China and ASEAN. China's policy system in energy conservation and emission reduction, ecological construction, environmental protection and other aspects is becoming more and more perfect, and there are more and more tools and means. Vietnam is accelerating the industrialization process, and the labor-intensive industries are closely linked with China. Therefore, it is the common pursuit of China and Vietnam to promote green development in global supply chain cooperation and China ASEAN cooperation.

Zhang Jianping further said that under the framework of China ASEAN cooperation, China and Vietnam have strong economic and trade complementarities, close industrial links, and broad space and prospects for cooperation in adapting to and mitigating climate change. The two sides should strive to explore cooperation paths in equipment technology development, capacity building, and other aspects in energy conservation and emission reduction, forest protection, ecological agriculture development, and other fields.

The Statement mentioned that the two sides believe that e-commerce is an important area of bilateral international trade. They should continue to implement the Memorandum of Understanding between the Ministry of Commerce of China and the Ministry of Industry and Trade of Vietnam on Strengthening E-commerce Cooperation, play the role of e-commerce cooperation working group, strengthen policy communication and experience sharing, develop cross-border e-commerce, promote enterprise cooperation in logistics and other fields, and explore ways to strengthen banks Transfer clearing institutions to carry out electronic payment cooperation services, and improve the ability of small, medium-sized and micro enterprises to use e-commerce to expand new channels of international trade and investment. The Chinese side will continue to promote consumption through e-commerce and expand the sales of Vietnam's high-quality specialty products in China.

In response, Zhang Jianping said that China and Vietnam are both members of RCEP. There is a special e-commerce chapter under the RCEP framework. At present, China and Vietnam have strong market demand in e-commerce, overseas warehouse construction, financial technology support, cross-border payment and other aspects, and the industry is also developing very rapidly. The cooperation space and potential of the two countries in the field of digital economy and digital trade are constantly releasing. It is expected that both countries will make good use of the RCEP e-commerce chapter to promote the continuous progress of cross-border e-commerce.