China’s Guangxi continues to deepen economic and trade exchanges and cooperation with Vietnam

Statistics from the departments of commerce and customs of China's Guangxi Zhuang Autonomous Region show that in the first 11 months of 2023, Guangxi imported and exported 222.97 billion yuan to Vietnam, up 31 percent year-on-year. Vietnam and Guangxi are connected by mountains and rivers, and Guangxi is also the frontier and window of Sino-Vietnamese cooperation, and the economic and trade cooperation between the two sides is being deepened, with Vietnam having been Guangxi's top trading country for 24 consecutive years.

It is more convenient for Vietnamese fruits to be exported to China through Guangxi. Cross-border fruit trade between China and Vietnam is booming, and Guangxi Youyiguan Port has become China's largest land fruit import and export port, with an average of nearly 2 tonnes of fruit from ASEAN entering China from here every minute. In order to better meet China-ASEAN fruit consumption demand, Guangxi is building China-ASEAN fruit trading centres in Chongzuo, Qinzhou and Nanning to achieve a high degree of concentration of China-ASEAN fruit trading, display, settlement, processing, logistics and customs clearance. At present, Guangxi has opened 1,073 cross-border trains between China and Vietnam, and it is more convenient for Vietnamese fruits such as durian, dragon fruit and longan to enter the Chinese market through Guangxi.

Two-way investment between Vietnam and Guangxi has been increasing. As of October 2023, Vietnam has cumulatively set up 103 foreign-invested enterprises in Guangxi. Guangxi has 184 non-financial investment enterprises and organisations in Vietnam, with an actual investment of US$140 million, of which Guangxi enterprises invested in Vietnam Ming Yang Biochemical Limited Liability Company, which is currently the largest foreign-funded producer of cassava modified starch in Vietnam, integrating development, production, sales, and application of technology.

The cooperation mechanism between Vietnam and Guangxi continues to deepen. In March 2023, Guangxi and the Ministry of Industry and Trade of Vietnam jointly organised the New Era of Gui and Vietnam and the China (Guangxi)-Vietnam Economic and Trade Cooperation Matchmaking Meeting. In June 2023, Lang Son Province of Vietnam signed the Framework Agreement on Jointly Promoting the Pilot Construction of Intelligent Border Crossing with Guangxi.In November 2023, a delegation from Guangxi went to Vietnam for a visit, and held a summary meeting with Vietnam's Ministry of Industry and Trade on the implementation of the Three-Year Action Plan (2021-2023) on Strengthening Cooperation between Guangxi and Vietnam in the Field of Economy and Trade. At present, Guangxi has five border economic cooperation zones along the China-Vietnam border.

Vietnam and Guangxi have made new breakthroughs in the construction of smart ports. Guangxi shares borders with 17 counties in four provinces of Vietnam – Lang Son, Quang Ninh, Cao Binh, and Ha Giang – with a total of nine border crossings with Vietnam.2023 In the first 10 months, the import and export cargo volume of Guangxi's ports was 167 million tonnes, up 30% year-on-year. The Longbang and Shuolong ports in the country have been upgraded to international ports, and goods from Nanning to Hanoi, Vietnam, can be delivered within 24 hours.In September 2023, Guangxi and Langsan, Vietnam, jointly organised a groundbreaking ceremony for the Sino-Vietnamese Smart Port (Youyi Guan – Youyi) project at the Youyi Guan – Youyi Port.

Guangxi Zhuang Autonomous Region's commerce department said Guangxi will accelerate the construction of smart ports, strengthen interconnection and cooperation with Vietnam in the field of ports and other infrastructures, set up an efficient cooperation mechanism for logistics informatisation and customs clearance facilitation, improve the effectiveness of customs clearance at ports, and serve the stable development of the industrial chain supply chain.

Source: Guangxi Zhuang Autonomous Region