Bilateral trade surges as China bets on Vietnam

China and Vietnam are poised to strengthen economic ties through complementary trade structures, digital transformation, and regional agreements like RCEP. Amid global protectionism, both countries are accelerating cooperation in advanced manufacturing, green energy, logistics, and technology. In 2024, bilateral trade rose 14.6% to CNY1.85tr (USD254.05bn) driven by growing investment and intermediate goods trade. Chinese firms invested USD1.97bn in Vietnam from January to August 2024, bolstered by its green growth and AI strategies. Vietnam’s position as a key assembly hub with a skilled workforce complements China’s tech edge. Analysts said the China-Vietnam relations are set to deepen, supported by proximity, policy alignment, and robust supply chain links.