Vietnam's Exports to China Hit Record High

According to data from China's General Administration of Customs, bilateral trade between China and Vietnam reached RMB 1.6737 trillion in the first 11 months of 2024, marking a 15.3% increase compared to the same period in 2023. Vietnam's General Department of Customs forecasts that trade between the two countries will account for nearly one-third of Vietnam's total trade volume in 2024. Analysts attribute this growth to the benefits of multilateral agreements such as the *Regional Comprehensive Economic Partnership (RCEP)* and the upgraded China-ASEAN Free Trade Area (FTA 3.0), which are creating new opportunities for deepened economic and trade cooperation.

China is Vietnam's largest trading partner, while Vietnam stands as China's top trading partner within ASEAN. Vietnam's customs data reveals that, from January to November 2024, Vietnam's fruit and vegetable exports to China totaled $4.1 billion, a 28.7% year-on-year increase. Its seafood exports reached $1.4 billion, up 23.2% year-on-year. Citing the latest figures, *VietnamNet* reported that China remains Vietnam's largest market for fruit and vegetable exports, accounting for 65.2% of Vietnam's total export value in this sector.

At the Friendship International Border Gate in Vietnam's Lang Son Province, which is located directly opposite China's Pingxiang Port, over 1,000 trucks loaded with goods from both countries pass through daily. The customs and goods transfer operations at the port have created over 1,000 local jobs. In recent years, the Vietnamese government has introduced favorable policies, simplified approval procedures, and reduced taxes and fees to support Vietnamese enterprises engaged in border trade.

Vietnam is actively developing an international border economic demonstration zone to create new platforms for expanding trade with China. For example, the Dong Dang Border Gate Economic Zone Project in Lang Son Province spans 144 hectares and includes plans for an international cargo storage center, large-scale cold chain facilities, and container yards. Once completed, it will accommodate 1,500 trucks simultaneously, significantly boosting the capacity for handling and storing fresh goods such as agricultural and aquatic products. According to Lieu Minh Anh, Deputy Director of the Lang Son Department of Industry and Trade, Lang Son alone has 12 international border gates connected to China. The province is accelerating infrastructure development and supporting industries to enhance the role of its border economic zones in fostering bilateral trade.

Currently, road transportation remains the primary method for Vietnam's agricultural exports to China. During harvest seasons, truck traffic increases significantly. According to *Nhan Dan* newspaper, Lang Son Province's daily truck volume reached approximately 1,300 vehicles in 2024, an 18.2% increase year-on-year. Agricultural products such as lychees, durians, dragon fruits, and cassava flour from various parts of Vietnam are transported primarily through this route to the Chinese market. To improve land transportation conditions, Vietnam has upgraded several key roads connected to its border crossings. Highways linking Lang Son to Hanoi, Hai Phong, and Quang Ninh Province, along with some national road expansion projects, are under accelerated construction and will significantly enhance transportation efficiency upon completion.

China and Vietnam are also speeding up efforts to enhance transportation infrastructure connectivity. Both countries have announced plans to jointly construct three standard-gauge railways: Lang Son-Hanoi, Lao Cai-Hanoi-Hai Phong, and Mong Cai-Ha Long-Hai Phong. Vietnamese Prime Minister Pham Minh Chinh recently inspected the Lao Cai-Hanoi-Hai Phong railway project and announced that construction is expected to begin by the end of 2025 and conclude by the end of 2030. He emphasized the importance of ensuring compatibility between the railway systems of both countries and maintaining close collaboration with China throughout the design and construction process.

The economic structures of China and Vietnam are highly complementary. Vietnam has designated China as a key export market for its agricultural, forestry, and fishery products. Meanwhile, imports of Chinese steel, textiles, fibers, and electronic components are vital for Vietnam's manufacturing sector and supply chain stability. Le Quoc Phuong, former Deputy Director of the Trade and Industry Information Center at Vietnam's Ministry of Industry and Trade, highlighted the competitiveness of Chinese products in terms of quality and price. He noted the geographical advantage of the land border between the two countries and, with Vietnam's growing market demand, sees significant potential for expansion in trade and investment between China and Vietnam.

Source: People's Daily Online