Trade between Vietnam and China has produced positive results, despite long-lasting difficulties caused by the COVID-19 pandemic, with Vietnam affirming its position as China’s largest trade partner in ASEAN.
Containers transporting dragon fruit to China (Source: VNA)
Beijing (VNA) – Trade between Vietnam and China has producedpositive results, despite long-lasting difficulties caused by the COVID-19pandemic, with Vietnam affirming its position as China’s largest trade partnerin ASEAN.
China Customs statistics show that two-way trade hit 111.2billion USD in the first eight months of 2020, a year-on-year jump of 13.4percent. Of the total, Vietnam exports were valued at 44.1 billion USD, andimports at 67 billion USD, up 20.9 percent and 8.9 percent, respectively.
With these figures, Vietnam remained China’s seventh biggesttrade partner in the world and its largest trader in ASEAN.
Amid COVID-19 outbreaks, the two countries have promptlydiscussed measures to maintain trade activities and put forward initiatives toboost virtual business exchanges.
More measures are expected to be carried out in the timeahead to continue fostering bilateral trade cooperation./.
Deputy Prime Minister and Foreign Minister Pham Binh Minh and Chinese State Counsellor and Foreign Minister Wang Yi on August 23 co-chaired a ceremony to celebrate the 20th anniversary of the signing of the Vietnam-China Land Border Treaty at Mong Cai International Border Gate in the northern province of Quang Ninh.
China is currently Vietnam’s largest import source and second-largest export market, while Vietnam is its northern neighbour’s eighth-largest trade partner. China is also the first trade partner of Vietnam to surpass the 100 billion USD milestone.
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Containers transporting dragon fruit to China (Source: VNA) 
