The Vietnam - China bilateral trade has accelerated rapidly in the 2000 - 2010 period, recording an average annual growth of 32 %. In 2009, in spite of adverse impacts arising from the global financial crisis and economic downturn, the two-way trade turnover still reached US$21.35 billion, up 5.04 % from 2008. In the first six months of 2010, Vietnam's exports to China valued at US$2.8 billion, up 45 % over the corresponding period in 2009 while its imports from China were worth US$9.1 billion, up 32 %.
Notably, since the ASEAN+3 cooperation mechanism was launched in 2000, China’s exports to Vietnam has increased 24.4 times from US$673 million in 1999 to US$16.44 billion in 2009. Meanwhile, Vietnam's imports from China rose only about 6.6 times from US$746 million to US$4.91 billion. Vietnam spent US$4.16 billion on Chinese machines, equipment, tools and spare parts out of US$12.67 billion on these imported items.
Vietnamese Deputy Prime Minister Truong Vinh Trong said at a the 7th China - ASEAN Expo (CAEXPO 2010) held in Nanning City, Guangxi Province, China, that the Vietnam - China bilateral trade revenue in 2010 may increase five times from 2005.
In the year to date, China’s direct investment into Vietnam reached US$74.2 million, up 131.1 % from a year ago. Vietnam licensed 35 Chinese investment projects worth US$60.5 million. Particularly, the number of licensed projects climbed five times from the same period in 2009 and the value jumped 8.5 times.
China is currently the 11th largest investor in Vietnam with more than 700 projects and US$3 billion of investment capital. Most Chinese projects are being implemented smoothly and successfully, bringing mutual benefits to investors and the two countries.
Notably, for Chinese investors, Vietnam is considered the most favoured destination in ASEAN. This evidence is beyond expectations of many specialists. However, the scale of Chinese investment projects is still relatively small.
Q.C
Vietnamese
