Trade and investment cooperation between China and Vietnam has continued to deepen and achieve practical results. China remains Vietnam’s largest trading partner, and Vietnam is China’s largest trading partner in ASEAN.
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To Lam, general secretary of the Communist Party of Vietnam Central Committee and Vietnamese president, is undertaking a state visit to China from August 18-20. It is his first foreign visit since taking office as general secretary of the Party earlier this month.
Trade between the two countries reached $229.8 billion in 2023, according to China’s General Administration of Customs. China’s imports from Vietnam increased 4.8 percent compared to a year ago.
Combined investment in Vietnam from the Chinese mainland and Hong Kong Special Administrative Region hit $8.29 billion in 2023, accounting for 28.9 percent of foreign investment in Vietnam. As of July 20, 2024, Chinese businesses had nearly 4,760 valid projects registered in Vietnam, totaling $28.55 billion in investment.
