Vietnam and China have a bilateral trade volume of US$106 billion

Vietnam and China have a bilateral trade volume of US$106 billion

On the 20th, the Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry and the China Foreign Trade Center jointly held the “China Import and Export Fair” promotion meeting and the Vietnam-China Business Trade Fair.

According to the Vietnam Chamber of Commerce and Industry Ho Chi Minh City, China continues to be Vietnam’s largest trading partner, and Vietnam has surpassed Malaysia to become China’s largest trading partner in the ASEAN region. In 2018, bilateral trade volume reached US$106 billion, a year-on-year increase of 14%. China has also become the first trading partner of bilateral trade with Vietnam for US$100 billion.

Among them, Vietnam’s exports to China reached US$41 billion, up 16% year-on-year; imports from China amounted to US$65 billion. Vietnam’s export product structure has shifted in a positive direction. The proportion of industrial products, agriculture, forestry and fishery products has increased, and the proportion of raw materials, fuels and minerals exports has declined.

Statistics from the Vietnam Chamber of Commerce and Industry Ho Chi Minh City show that as of December 2018, China and Hong Kong invested 3,517 projects in Vietnam with a registered capital of US$33 billion. The Hong Kong Special Economic Zone has 1422 investment projects, accounting for 40%, and registered capital of US$19.7 billion, accounting for nearly 60%.

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