Viet
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As far as I know, both parties have been in talks since years. Difficult talks of course since the SCS issue not only has high stakes on the table but involves nationalistic sentiment.That sounds like a great plan, I wonder why the Two Nations haven't talked more about this? I understand why China needs spartly islands; Not so much wanting the resource but rather China doesn't want to be contained by the US, but I think China can resolve that issue by working with Vietnam instead of claiming sovereignty over the entire spartly islands, that way China won't be as contained and they will have a more friendlier relationship with Vietnam
If I am correct: last year in Beijing, we reached an agreement that the future sea border between China and Vietnam will base on the current status quo, peaceful solution, international laws (e.i. UNCLOS) and regional committments (e.i. Code of Conducts). In addition both sides want to step up the negotiation by meeting twice per year. Based on these, I made "my SCS-plan".
If both parties are willing to meet halfway, I think a solution is possible.