China Vietnam Economic And Trade Average Annual Growth Exceeds 30%

The economic and trade relations between China and Vietnam are growing rapidly, and the figures from above can be seen.

Expert analysis shows that China and Vietnam have close geographical location and strong economic complementarity, and the two sides need to strengthen cooperation in economic and trade cooperation.

Economic and trade cooperation between China and Vietnam is an important driving force for the sustained economic growth of both sides, especially Vietnam.

In the past ten years,

It is one of the fastest growing countries in China's foreign trade.

Data show that in 2014, the total import and export value of China and Vietnam was 83 billion 696 million US dollars, which is 18 times higher than that of 2003's 4 billion 630 million US dollars, with an average annual growth rate of over 30%, far higher than the average annual growth rate of China's foreign trade 18% over the past more than 10 years.

According to customs statistics, over the past ten years, China and Vietnam

It is one of the fastest growing countries in China's foreign trade.

Data show that bilateral trade volume between China and Vietnam was only 4 billion 630 million dollars in 2003. In 11 years, the volume of trade between China and Vietnam has increased by 18 times as much as in 2003. The average annual growth is more than 30%, much higher than that in more than 10 years.

The average annual growth rate of 18%.

From the perspective of trade products between China and Vietnam, China's exports to Vietnam are mainly raw materials and machinery.

According to statistics, in 2013, Vietnam accounted for 18% of the main products imported from the Chinese market, including 15% of machinery and equipment and accessories, 15% of raw materials for textiles, leather and shoes, 15% of telephone and accessories, 12% of computers and electronics, and 9% of steel and various products.

It is reported that China has become Vietnam's largest trading partner for 11 consecutive years, and is the second largest export market after the US, and Vietnam's largest fruit export market and more than 30% of the export market of rice and other agricultural products.

Over the past two years, Vietnam has surpassed Singapore as China's second largest trading partner in ASEAN, ranking behind Malaysia.

In 2013, the prime ministers of the two countries indicated that they should promote trade facilitation and strive for bilateral trade volume to reach US $100 billion in 2017 and encourage entrepreneurs from both countries to invest in the other countries.

In fact, China is also one of the countries that invest more in Vietnam.

According to the Foreign Investment Bureau of the Ministry of investment and planning of Vietnam, as of March 20, 2015, there were 1112 more effective investment projects in mainland China, with a total contract value of nearly US $8 billion, ranking the ninth among the countries and regions that invested more.

The Sino Vietnamese economic and trade development potential is huge, which is reflected in the Sino Vietnamese joint communiqu on 8.

The communiqu held that the Chinese side supports Chinese enterprises to invest in Vietnam, and is also willing to create more convenient conditions for Vietnamese enterprises to explore the market in China.

Vietnam will provide necessary conveniences for Chinese enterprises to invest in Vietnam.

To promote bilateral trade stability, balance and sustainable growth, China encourages Chinese enterprises to expand the import of Vietnam's competitive commodities, and the two sides actively study the signing of the Sino Vietnamese border trade agreement (Revised Version).