Vietnam's technology- and capital-intensive industries are developing rapidly and gradually becoming the backbone of dominance in China-Vietnam trade.
The structure of trade between China and Vietnam has been accelerated and optimized. Vietnam's technology- and capital-intensive industries are developing rapidly, becoming the "backbone" of trade between China and Vietnam. Fourth, border trade plays an important role. Border trade between China and Vietnam is an important and indispensable part of bilateral trade, which is of great significance in enriching the people and promoting the development of relations between the two countries.
During the 27th Vietnam (Hanoi) International Trade Fair in 2017, Guangxi will focus on displaying high-quality commodities such as hardware tools, machinery and equipment, power equipment, cables and wires; and carry out commodity procurement docking sessions with the Vietnamese side, organize business visits to the local intensive market and industrial zones, and actively promote economic and trade cooperation and exchanges between Guangxi enterprises and Vietnamese enterprises.
The scale of China-Vietnam trade is expanding rapidly. Secondly, the trade imbalance between China and Vietnam has gradually changed. in 2015, China-Vietnam trade grew by 14.6 percent, of which China's exports to Vietnam grew by 3.8 percent while Vietnam's exports to China grew by 49.1 percent, and the increase in Vietnam's exports to China was nearly 13 times higher than the increase in imports from China. p>In recent years, China and Vietnam have enjoyed close economic and trade cooperation with great achievements. According to Vietnam Customs, bilateral trade between China and Vietnam reached 71.9 billion U.S. dollars in 2016, up 7.9 percent. China has been Vietnam's top trading partner for 13 consecutive years, and Vietnam surpassed Malaysia to become China's top trading partner among ASEAN countries.
At present, China has accumulated 1,529 investment projects in Vietnam with an agreed value of US$10.14 billion, and has risen to eighth place in the ranking of sources of foreign investment in Vietnam.In the first two months of 2017, Chinese investment in Vietnam accelerated with an investment value of more than US$700 million.
At present, several important cooperation mechanisms have been established between Guangxi and various parts of Vietnam. Among them, the mechanism of joint working committees of four border provinces between Guangxi and Vietnam has actively promoted in-depth cooperation between the two countries.In 2015, Vietnam's Quang Ninh Province signed an Exchange Agreement on Establishing Friendship Local Organizations with Guangxi, pushing local cooperation between the two countries into a new stage of development.
Phoenix - Vietnam has been Guangxi's largest trade partner for 17 consecutive years
People's Daily Online - Highlights of China-Vietnam economic and trade cooperation