Vietnam-China economic relations

[Viet]

Vietnam's imports from China in the first eight months of this year were worth US$15.2 billion, up $3 billion year-on year, the General Customs Office reported. Equipment and machinery was the top import item at $3.3 billion, an 8 percent rise. Vietnam also imported fabrics worth $1.87 billion, computers worth $1.27 billion, and mobile phones worth $911 million.

No need to troll.
Read again, Vietnam luckily inports mainly goods that help to strengthen own economic basis. If China offers goods and services with good quality at competitive prizes, why shall we reject?

 

[Viet]

No I didn't imply the Vietnamese economy is going to collapse, however, the government has to handle Mr Kien case carefully as to avoid investors' and depositors' confidences. Without foreign capital inflows, especially in this down turn period, the world economy is going to drag Vietnam down with it. This also has the potential to instigate the political fallout between the President and the Premier. Social dishevels in Vietnam are the last things anyone, including China, wants to see in this area.

The only market is expanding now is China's consumer market and if Vietnam can catch that trend there's plenty of needed cash.

I like you. You belong to a few Chinese fellows in the forum who does not post endless nonsense or hate against other especially Vietnam. I am not aware of a conflict between the President and the Premier. Can you pls enlighten?

Like the rest of the world, VN economy is going through turbulent times. Surely China can help by opening the market for consumer goods from elsewhere. For example, VN´s food products are relatively cheap, by importing China can keep inflation under control. My appeal to China is, take the political dispute out of business.

About the arrest of Mr Nguyen Duc Kien, we shall wait for what the investigation brings. Let me post this artikle for those who haven´t heard about the case.


Vietnam financial mogul arrested for 'economic violations'
Last Updated: Tuesday, August 21, 2012 10:15:00

Nguyen Duc Kien, one of Vietnam's richest men, has been arrested for alleged economic violations

One of Vietnam's richest men has been arrested in Hanoi for suspected “economic violations,” Tuoi Tre quoted a Ministry of Public Security official as saying Tuesday.

The unnamed official from the ministry’s Anti-crime General Department told the newspaper that Nguyen Duc Kien, 48, had been arrested the previous night.

His house in Hanoi was also searched the same day. But no further details are known yet. Kien is the vice chairman of The Viet Nam Professional Football Joint Stock Company, which runs the V-League.

Listed as one of Vietnam’s 100 richest men in 2010, he is a major shareholder of several major banks like Asia Commercial Bank, VnExpress said.

Nguyen Thanh Toai, deputy general director of ACB, told Tuoi Tre that the arrest was a “personal” issue and had no bearing on the bank’s operations. Kien is no longer a major shareholder of the bank or on its board, he added.

Vietnam latest news - Thanh Nien Daily | Vietnam financial mogul arrested for 'economic violations'

 

[Fanling Monk]

@ Viet

Vietnam political battles heat up as economy falters

Football-mad Kien, an instantly recognisable 48-year-old financier with a shock of white hair, is widely reported to have close connections to Prime Minister Nguyen Tan Dung and his daughter, a Swiss-trained private banker.

Dung, who was reelected to a second five year term in 2011, has used this power to aggressively push for high growth rates and champion a South Korean chaebol-style development path, relying on huge state-owned companies to drive overall economic growth.

Dung, who was reelected to a second five year term in 2011, has used this power to aggressively push for high growth rates and champion a South Korean chaebol-style development path, relying on huge state-owned companies to drive overall economic growth.

At first, Vietnam was notching up seven percent-plus annual growth rates and quickly became a favourite of foreign investors including global banking giant Standard Chartered, which owns 15 percent of ACB.

But with economic growth now just 4.4 percent year-on-year in the first half of 2012, foreign direct investment down nearly 30 percent in the same period and toxic debt in the fragile banking system at "alarming levels" according to the central bank, there has been increasingly vocal criticism of Dung.

"Some party leaders have lost patience, and feel it is time to act to eliminate these potential threats and regain public confidence," he added, speaking on condition of anonymity.

In a scathing op-ed on Thursday, President Truong Tan Sang -- one of Dung's main political rivals -- said that "Vietnam is now under not insignificant pressure because of broken state-owned enterprises."

He criticised "the degradation of political ideology and the morals and lifestyle" of officials -- a swipe at wealthy tycoons like Rolls Royce-driving Kien -- and called for economic reform and a new anti-corruption drive.

"Sang and Party Secretary General Nguyen Phu Trong are now repeating an old but true refrain that corruption is one of the major threats to the legitimacy of Vietnam's one-party system," Thayer said.

Public discontent over official corruption has bubbled over into violent protests several times this year.

Thayer pointed to the significance of a decision earlier this month to remove control of the anti-corruption steering committee from the prime minister and hand it back to the party.

full story>Vietnam political battles heat up as economy falters | Bangkok Post: news

http://www.nytimes.com/2012/09/02/w...gap.html?_r=1&ref=todayspaper&moc.semityn.www


Corruption scandals, different ideologies between two top men, discontents on the streets, investor withdrawals and economical stagnation worldwide are dangerous signs for any non democratic country, especially for a newly developing small nation like Vietnam. I'm not here to bash your country and I just hope she handles the situations with care and prudently.

 

[Viet]

Look delusional viet , dont overestimate yourself we hate you for what? vietnam is nobody compared to china.btw you viet trolls are the one that posting endless bs in this forum no one else can beat you guys for that

look at the bold parts...that answers your question.

 

[Viet]

Non-stop China-Vietnam bus service launched
(Xinhua) 16:14, August 23, 2012

NANNING, Aug. 23 (Xinhua) -- A non-stop bus service linking Nanning, capital of south China's Guangxi Zhuang Autonomous Region, with Hanoi, Vietnam's capital, opened on Wednesday.

Prior to the new service, passengers had to change coaches after going through customs checks.

The 381-km direct trip takes 7.5 hours.

It was opened based on a bilateral agreement between China and Vietnam in effect since Feb. 17, which helped remove institutional obstacles on running direct road transport services.

The agreement also allows official vehicles with special permits to be exempted from going through customs routines, which is the first such practice between China and its neighboring countries.

Guangxi, as a gateway for enhancing China's strategic cooperation with members of the Association of Southeast Asian Nations, has 28 roads linking it to Vietnam.

__________________________________________________________________________

Vietnam, China boost overland freight transport
(Xinhua) 08:06, August 23, 2012

Location of Lạng Sơn within Vietnam

HANOI, Aug. 22 (Xinhua) -- The Vietnam and China's Ministries of Transport co-held the opening ceremony of two freight line connecting the two countries in Vietnam's northern Lang Son province, some 130 km north of capital Hanoi, on Wednesday to boost overland transport.

The ceremony drew the attention of representatives of Vietnam and China's Ministries of Transport and leaders of other institutions.

In accordance with the Vietnam and China Road Transport Agreements and Protocol, the opening of the routes marked an important milestone in the two countries' economic and trade cooperation, contributing to deepening the comprehensive cooperation partnership between Vietnam and China.

The two freight routes, Hanoi-Nanning and Hanoi-Shenzhen, are expected to speed up the flow of passengers and goods so as to reduce costs.

According to leader of Lang Son province, in recent years, the province has always created favorable conditions for the cooperation of international transport between Vietnam and China.

There are over 30,000 cargo vehicles and around 40,000-50,000 passenger vehicles travel through the International Friendship Border Gate annually.

 

[james5]

Vietnam does not part of the ranking nation record. Vietnam seems not to be the considerable opponent of Chinese suppliers.

 

[Viet]

Vietnam does not part of the ranking nation record. Vietnam seems not to be the considerable opponent of Chinese suppliers.

???
Sorry, what the hell do you want to say?

 

[Viet]

Vietnam cautious as China increases rice imports
Updated : Fri, September 7, 2012,10:36 AM (GMT+0700)

China has become the largest importer of Vietnamese rice this year to date with a record turnover, but local exporters remain cautious against the market, especially in regards to payment.

“We don’t know how much China will continue importing in the future, and when they will cease purchases, so local exporters should be careful,” the Vietnam Food Association (VFA) warned in a statement.

In the year to July, Vietnam shipped a total of 4.73 million tons of rice to global markets, reaping more than US$2.1 billion in revenues, according to the General Customs Department.

China has accounted for 28.3 percent of the total export turnover, or 1.34 million tons, a shipment valued at $570 million. This is 5.2 times higher than the figure recorded in the same period last year, which was only 257,000 tons.

“China has the demand for rice imports due to the impact of bad weather in many of its areas,” said VFA deputy chairman Pham Van Bay in explaining the unexpected increase of rice exports to China.

Rice is being exported to China under a free market mechanism, which means any local qualified exporter is allowed to sell rice to Chinese customers, according to VFA.

Meanwhile, Nguyen Dinh Bich, from the Institute for Market Research, said that the increased imports arose from the fact that rice prices in China have soared by 7 to 19 percent compared with last year.

“China’s domestic rice prices now stand around $400 a ton, while in Vietnam the rate is only $260 a ton. So it is no surprise that Chine traders have rushed to buy from Vietnam,” said Bich.

Stay cautious

Despite the increased amount of rice shipped to China, local rice businesses as well as management authorities do not yet know what the real demand of their largest customer is.

“Chinese traders appear secretive when it comes to their buying demand, so local exporters do not know how to develop their business plan,” said Bay from VFA.

Earlier, VFA chairman Truong Thanh Phong also warned local businesses to stay “extremely cautious” when signing contracts with Chinese customers, and focus on the payment method.

“Exporters should not ship the products when they have yet to receive payments and receipts from the Chinese partners,” advised Phong.

He added that Vietnamese businesses should try not to become involved in disputes with the Chinese traders, as “it is impossible to file a lawsuit in case you suffer business risks with Chinese partners.”

Earlier this year some Chinese traders asked local exporters to mix 5 percent broken rice and aromatic together, and sell at the exporting price of the latter to earn profits, a move VFA said was extremely dangerous as it could have destroyed the reputation of Vietnamese rice.

“We would have lost the Hong Kong and Chinese markets if that action had not been stopped in time,” the association said.
Vietnam cautious as China increases rice imports - Latest Business, economy, stocks, finance news from Vietnam on TuoiTreNews

 

[luckycharm]

Vietnam does not belong to the ranking country list. Vietnam seems not to be the significant competitor of China...

The list that the OP posted lists the number of Tourists to Vietnam, this is not about competition WITH vietnam

 

[Viet]

Chinese, Vietnamese presidents meet on ties
English.news.cn 2012-09-07 08:28:58

Chinese President Hu Jintao (R) meets with his Vietnamese counterpart Truong Tan Sang in Vladivostok, east Russia, on Sept. 7, 2012. (Xinhua/Xie Huanchi)

VLADIVOSTOK, Sept. 7 (Xinhua) -- Chinese President Hu Jintao and his Vietnamese counterpart Truong Tan Sang exchanged views on bilateral ties here Friday on the sidelines of the annual Asia-Pacific Economic Cooperation (APEC) forum.

China and Vietnam are friendly neighbors linked with mountains and rivers, with the friendship built on the efforts of older generations of leaders, Hu said, adding the Communist Party of China (CPC) and the Chinese government attach great importance to the friendship with Vietnam.

The Chinese president pointed out that it is an established policy of the CPC and the Chinese government to reinforce and develop good-neighborly and friendly cooperation with Vietnam.

"The Chinese side is ready to work with Vietnam to deepen our traditional friendship, expand practical cooperation and advance our comprehensive strategic cooperative partnership," Hu said.

During the meeting, Hu put forward a three-point proposal in a bid to strengthen China-Vietnam ties.

First, the two countries should stick to the right direction when dealing with bilateral relations and stand firm for the friendship, Hu said.

"In any case, the two sides should hold high the banner of China-Vietnam friendship," he said.

Second, both countries should continuously broaden positive sides of bilateral relations. The Chinese leader said that the two sides need to bring China-Vietnam Steering Committee for Bilateral Cooperation and China-Vietnam Economic and Trade Committee into full play and strive for more achievements of cooperation in the spirit of mutual benefit and double win.

Third, China and Vietnam should promote people-to-people ties through multi-level and wide-range exchange and with more positive media coverage of bilateral cooperation, Hu said.

Sang said the traditional friendship between the two neighboring countries and the two peoples is a treasure that both sides are responsible to safeguard.

Vietnam has consistently advocated a strategy of strengthening and consolidating the comprehensive strategic cooperative partnership with China, he said.

Vietnam is ready to work with China to maintain high-level exchanges, enhance mutual trust, promote economic and trade cooperation, enrich people-to-people contact and strengthen coordination in international and regional affairs, the Vietnamese president said.

On behalf of the Communist Party of Vietnam and the Vietnamese government, Sang congratulated China on its economic and social achievements and wished the upcoming 18th CPC National Congress a great success.

Hu acknowledged that China-Vietnam relations ran into some difficulties recently due to territorial disputes in the South China Sea, which is not what the Chinese side wants to see.

"The two sides should insist on political resolution of the disputes, persistently pursue the route of putting aside disputes and jointly developing the area, stick to bilateral negotiation and friendly consultation and firmly safeguard peace and stability in the South China Sea," he said.

Hu said under the current situation, the two sides should jointly implement the consensus already reached in the consultation and avoid taking any unilateral action that may aggravate, complicate or internationalize the disputes.

Both sides should not let the South China Sea issue affect East Asia cooperation and regional stability, Hu said.

Sang said the Vietnamese side is ready to work with the Chinese side to proceed from the strategic interests of both countries to implement the consensus reached by their leaders and push for an early resolution of the disputes through peaceful and friendly consultation.
Chinese, Vietnamese presidents meet on ties - Xinhua | English.news.cn

 

[Viet]

Tongwei’s appetite to succeed
| vir.com.vn | Sep 15, 2012 15:14 pm

China-backed Tongwei Company has inaugurated Tongwei animal feed factory in the northern Hai Duong province’s Lai Cach industrial zone.

This is the second factory of China-based Tongwei Company to operate in Vietnam. The first factory located in southern Tien Giang province coming online in 2007.

The $10 million factory, covering 30,000 square metres, is equipped with the latest technology to process food for domestic animals. The new facility has a designed capacity of 200,000 tonnes per year.

“The factory will recruit around 200 workers from the local market. With huge development potential of the animal feed industry, we decided to build this factory with an aim to meet the market’s increasing demand. Tongwei Company will expand from three to five its affiliates in the next three to five years in Vietnam,” said the company’s general director Tang Ming.

He added that the factory was built with safe and clear norms to supply quality animal feed product for Vietnam’s market.

China-based Tongwei Company was founded in 1984 specialising on aquaculture, producing and trading animal feed. One of China’s key leading enterprises in agriculture industrialisation, Tongwei operates nationwide as well as in Southeast Asia with more than 110 subsidiary companies.

The market share of Vietnamese companies faces a challenge amid the expansion of foreign competitors.

In July of this year, Japfa Comfeed Vietnam, an affiliate of Japfa -- one of Indonesia’s leading groups in producing and trading animal feed and breeding animals--started work on the fifth animal feed factory in Vietnam, with the 7.6 hectare plant in northern Hoa Binh province coming with VND600 billion ($28.8 million) price tag. Japfa Comfeed Vietnam is targeted to reach the animal feed output of one million tonnes by 2015 and two million tonnes by 2020.

In March, Cargill Vietnam, an affiliate of the US-based Cargill Group, inaugurated its ninth animal feed plant in the country. The new $18 million facility, covering four hectares in northern Ha Nam province, turns out 240,000 tonnes of feed per year.

Vietnam Animal Feed Association chairman Le Ba Lich said that Vietnam was home to more than 20 foreign-invested animal feed companies which accounted for up to 70 per cent of the market share and nearly 180 Vietnamese businesses but the market share of the local firms made up only 30 per cent.

 

[Viet]

Vietnam becomes China's largest coffee supplier
English.news.cn 2012-09-22 21:13:48 | Xinhua

Terraced Coffee Plants in Vietnam

NANNING, Sept. 22 (Xinhua) -- Vietnam has become China's largest coffee supplier as China has seen an increase in coffee import in recent years, according to a Chinese official at the ongoing ninth Expo of China and the Association of Southeast Asian Nations (ASEAN) on Saturday.

China mainly imports coffee from ASEAN countries, especially from Vietnam and Malaysia, said Wang Lei, deputy secretary-general of the ASEAN Secretariat at the expo which opened on Friday in Nanning, capital of south China's Guangxi Zhuang Autonomous Region.

Customs data shows that China had imported 137,000 tonnes of coffee from 2007 to 2011, totaling 365 million US dollars. In 2011, China imported a total of 43,000 tonnes of coffee, a year-on-year increase of 41.9 percent.

China imported 103,900 tonnes of coffee from Vietnam from 2007 to 2011, which amounted for 195 million US dollars, accounting for 90 percent of the total coffee imports from ASEAN countries, Wang said.

China imported a total of 15,000 tonnes of coffee from Vietnam, amounting for 31.88 million US dollars in the first half of 2012, which accounted for 96.2 percent of the total coffee imports from ASEAN countries, Wang said.

Moreover, statistics from China Coffee Association shows that there are about 13,600 cafes and 2,200 coffee-related enterprises in China with a total of 500,000 employee involved in the industry.

At present, China's annual coffee consumption stands between 30,000 to 40,000 tonnes with annual growth rate of 10 percent to 15 percent. It is estimated that China's coffee consumption will continue to rise and reach 120,000 tonnes in 2012, Wang said.

Vietnam becomes China's largest coffee supplier - Xinhua | English.news.cn

 

[Viet]

Expo gives evidence of manufacturing shift

By Wang Zhuoqiong (China Daily) 08:13, September 27, 2012

Vietnam's booth at the China-ASEAN Expo in Nanning

The Bangkok-based Chia Tai Group plans to redirect more of its agricultural investment from China to Association of Southeast Asian Nations, or ASEAN, countries, which tend to have lower labor costs and land prices.

The company's agricultural businesses export processed-food and farm products to European Union countries and the United States.

"Labor costs in ASEAN countries are 30 percent lower than in China, and land prices are 50 percent lower on average," said Luo Xing, executive of the Guangxi unit of Chia Tai Group's agro-industry business.

He said the company is investing heavily in Vietnam and other ASEAN countries.

Chia Tai Group is one of many international companies that have shifted some of their manufacturing business from China to neighboring countries in Southeast Asia in recent years. Worries about that shift have generally taken a back seat at the ninth China-ASEAN Expo, which concluded on Tuesday in Nanning, the capital of the Guangxi Zhuang autonomous region, giving place to a belief that China and ASEAN countries will cooperate more.

"There is a lot of room and potential for industrial cooperation," Su Bo, vice-minister of the Ministry of Industry and Information Technology, said at the China-ASEAN advanced-manufacturing development forum in Nanning on Saturday.

ASEAN countries are rich in oil and gas resources and are home to many rubber plantations. In 2011, China imported $39.7 billion worth of fossil fuels and rubber products from them.

The same year, ASEAN countries became China's fourth-largest market for exports of mechanical and electronic products, and the fifth-largest source of imports for China. The countries have also become an important destination for Chinese investments into the textile garment, toy, footwear and daily necessity industries.

Expo gives evidence of manufacturing shift - People's Daily Online

 

[Viet]

Trade ties with northern border strengthened
Thanh Dat | vir.com.vn | Sep 19, 2012 15:00

Stronger trade and investment ties between Vietnam and China are being promoted.

Prime Minister Nguyen Tan Dung on September 20-21 will attend the 9th China-ASEAN Exposition (Caexpo) themed “Scientific and Technological Cooperation,” based in China’s Guangxi Zhuang Autonomous Region. This is China’s top annual exposition.

On this occasion, the prime minister will also attend the ASEAN-China Commercial and Investment Summit, a high-level dialogue forum between China and ASEAN with the aim of strengthening the ASEAN-China relations.

Dung will also meet with China’s Vice President Xi Jinping at the exposition to discuss trade and investment ties between the two nations.

Vietnam’s Ministry of Foreign Affairs said Caexpo was “very important to Vietnamese enterprises” because China, especially the Guangxi market, was Vietnam’s largest import market and one of the country’s largest export markets.

Vietnam has more than 200 booths covering over 3,500 square metres and displaying high-quality goods at the exposition, which features more than 5,000 booths in total.

In 2011, Vietnam had 196 booths owned by 120 local enterprises at the event. Local enterprises inked cooperation deals with China and ASEAN partners in a total value of $950 million, according to Vietnam’s Ministry of Foreign Affairs.

Caexpo is co-sponsored by the ministries of trade and industry of China and the 10 ASEAN member countries, as well as the ASEAN Secretariat. It is organized by the People’s Government of Guangxi Zhuang Autonomous Region. It is a international event for economic and trade exchanges that is held annually in Nanning province.

The Vietnam-China two-way trade turnover during this year’s first seven months touched $22.86 billion, up 20 per cent on-year. Vietnam’s total export turnover from this market was $7.21 billion, up 25.4 per cent on-year and the country spent $15.65 billion importing goods from China, up 18.2 per cent on-year.

Last year, the two-way turnover reached $35.7 billion, up 30.76 per cent on-year, in which Vietnam’s trade deficit figure from China was $13.5 billion, up 6 per cent on-year.

Vietnam’s Ministry of Planning and Investment reported that by late August, 2012 Vietnam was home to 857 Chinese investment projects with total registered capital of $4.56 billion.

Vietnam Investment Review - InvestLink - Trade ties with northern border strengthened

 

[itaskol]

vietnam coffee is very good. and also cheap.
I always buy vietnam coffee in taobao.

vietnam rice, not so good.( actualy the rice from philipine is better)