China was the first country to establish official diplomatic relations with Vietnam since 1950 and later became a comprehensive strategic partner in 2008. Over the course of more than 75 years of cooperation, China has become a crucial partner for Vietnam across various sectors, including the economy, politics, and trade. With the recent visit of China’s leader, the partnership between the two nations has been further solidified, creating numerous opportunities for Vietnam’s future development

Current Status of Economic and Diplomatic Relations Between Vietnam and China

In 2024, China maintained its position as the largest bilateral trading partner, with exports reached nearly 61 billion USD while imports increased by 30% compared to 2023, reaching 114 billion USD, making China the leading source of imports. As a result, Vietnam faced a trade deficit with China of approximately 84 billion USD, with key export and import items including electronics, textiles, footwear, and agricultural products[1].

Vietnam’s agricultural products are widely exported to China

Source: The Government News

In terms of newly registered FDI in 2024, China ranked 3rd after Korea and Singapore, with a total value of around 5 billion USD, accounting for 12% of the total newly registered FDI in Vietnam[2]. Additionally, 2024 also saw many new investment projects and capital increases across various sectors such as semiconductors, construction, manufacturing, etc

Some notable investment in recent years from China

 출처: B&Company Synthesis

In terms of diplomatic relations, Vietnam and China are part of major multilateral organizations such as ASEAN, the Asia-Pacific Economic Cooperation (APEC), and the Regional Comprehensive Economic Partnership (RCEP). Their collaboration within these organizations helps to strengthen regional stability and prosperity. In addition, both countries work together to promote a stable and open international order. China’s Belt and Road Initiative (BRI) has played a significant role in enhancing infrastructure projects in Vietnam, including roads, railways, and ports. This has boosted trade flows and increased connectivity between the two countries.

Recent Cooperative Visits Between Vietnam and China

In April 2025, Chinese President Xi Jinping embarked on a state visit to Vietnam, marking 75 years of strategic cooperation between the two countries. This visit aimed to strengthen bilateral ties amidst escalating trade tensions between China and the United States. During his visit, President Xi held discussions with Vietnamese leaders, including Party General Secretary Nguyen Phu Trong and President Vo Van Thuong.

China’s state visit to Vietnam

원천: Dan Tri Newspaper

The meeting resulted in the signing of approximately 45 cooperation agreements spanning various sectors such as supply chains, artificial intelligence, agriculture, railway development and more[3].

Some discussed areas during the meeting between the two countries

출처: B&Company Synthesis

This diplomatic engagement not only aimed to bolster economic ties but also to position China as a reliable partner in the region, countering the effects of U.S. tariffs and fostering regional stability. Moreover, the President of China also made several strategic visits to Vietnam previously, aimed at strengthening the cooperative relationship between the two countries.

High-level visits between Vietnam and China in recent years

출처: B&Company Synthesis

Opportunities for Cooperation Between the Two Countries

The strengthening economic ties between Vietnam and China open up significant opportunities for growth across several sectors such as manufacturing, agriculture, and technology stand out as prime areas for growth. As China pushes forward with its technological ambitions, Vietnam’s rapidly expanding tech industry presents opportunities for collaboration, especially in areas such as AI, robotics, and digital transformation. With both nations committed to fostering economic integration, the prospects for trade and economic development are expansive, supported by joint initiatives like the Belt and Road Initiative (BRI), which aims to enhance regional connectivity through investments in infrastructure such as railways, highways, and ports.

Additionally, several industries are poised for a surge in funding and development. Infrastructure, particularly in transportation and energy, is one of the fastest-growing sectors due to increased Chinese investments and the ongoing push for regional connectivity. Renewable energy, including solar and wind power, is another key area, with both Chinese and foreign investors targeting opportunities in Vietnam’s expanding green energy market. Furthermore, technology is set to see a significant influx of investment, as both China and Vietnam focus on digital economy development. The establishment of joint economic zones and free trade agreements, such as those within RCEP and ASEAN, further accelerates this trend, offering investors low-cost, high-potential regions to tap into. These areas of growth not only promise high returns but also allow investors to contribute to Vietnam’s broader economic transformation as a central hub in Southeast Asia.

결론

The growing economic and diplomatic ties between Vietnam and China offer significant opportunities for foreign investors. Key sectors such as manufacturing, infrastructure, and technology are set to thrive, driven by mutual cooperation and initiatives like the Belt and Road Initiative. As both countries continue to deepen their partnership, foreign businesses have a unique opportunity to contribute to and benefit from Vietnam’s expanding market and strategic position in Southeast Asia.

[1] General Statistics of Vietnam (2025). Vietnam Export and Import Situation in 2024 <입장>

[2] Ministry of Planning and Investment (2025). Foreign Direct Investment in Vietnam in 2024 <입장>

[3] VnBusiness (2025). Vietnam and China Sign 45 Economic Cooperation Agreements During the State Visit <입장>