The visit of the Vietnamese Party chief takes place from January 12 to 15.

 General Secretary Nguyen Phu Trong
After 38 years carrying out its open-door policy and economic reform, China has obtained a large number of great achievements in socio-economic development and remarkably increased its comprehensive power. During the first 30 years of the economic reform, the Chinese economy saw an average growth rate of 9-10 percent, exceeding the German economy in 2008 and Japan in 2010. China has now been the largest economy, second to the U.S., and has been seen as the “World’s Factory.”

In 2015, China’s GDP stood at RMB 67,700 billion or USD 10,800 billion, up by 6.9% from the previous year.

China has led the rest of the world in terms of both trade and foreign investment attraction. In 2015, its import-export was valued at USD 3,960 billion and attracted USD 126.3 billion.

Over the past time, China has invested significantly in science and technology; as a result, it has attained stunning achievements in the field, particularly aerospace, information technology, new materials, oceanography and military technology.

China has also invested much in infrastructural facilities, of which its high-speed railway is nearly 19,000 km in length, making up more than 60 percent of the total length of the world’s high-speed railway, while the total length of its express road is 120,000 km.

Several major targets set by China for 2016: GDP to increase 6.5-7.0 percent; CPI to be controlled at 3 percent; 10 million new jobs to be created in urban areas; urban unemployment rate to be under 4.5 percent; export-import to be stable; people’s income growth to be equal to GDP growth; the amount of discharge and emission to be controlled and reduced.

Although the Vietnam-China relations have still experienced some obstacles, the relationship has generally enjoyed stability and development, bringing practical benefits to both sides.

The two sides have well maintained exchange of high-level delegations in various forms, contributing to promoting political trust, boosting practical cooperation and strengthening healthy stable relations between the two countries.

Since the normalization of diplomatic relations between Vietnam and China, trade and economic ties have developed at a high pace. China is now Vietnam’s largest trade partner while Vietnam is China’s 6th largest export market and its 11th largest import market. Two-way trade reached USD 57.6 billion in the first 10 months of 2016, up by 5 percent year on year; Vietnam’s export to China was valued at USD 17.3 billion and its import was USD 40.2 billion.

At this point, China (excluding Taiwan, Hong Kong and Ma Cao) has run 1,522 investment projects in Vietnam with total registered capital of USD 10 billion, ranked 9th among 116 foreign investors in Vietnam. In the first 10 months of 2016, China invested 235 new projects in Vietnam with total capital of USD 1.2 billion. China’s investment projects in Vietnam are mainly in processing, manufacturing, electricity, gas and water supplies.

Regarding tourism, China has topped the list of foreign visitors to Vietnam. In the first 10 months of 2016, more than 2.2 million Chinese arrived in Vietnam, a year-on-year increase of 55.2 percent.

Regarding the East Sea (South China Sea) issue, leaders of the two parties and states have exchanged their views and reached an important common perception on resolving differences and disputes between the two countries on the basis of respecting each other’s legitimate interests and conforming to international law.

The two sides’ involved agencies and units have agreed to follow the common perception and signed deals, particularly Vietnam-China Agreement on Basic Principles Guiding Settlement of Maritime Issues; to well performed the governmental-level negotiation mechanism on the Vietnam-China land border; to persistently conducted friendly discussions and negotiations to seek long-term fundamental solutions acceptable to both sides while actively finding transitional solutions without affecting the viewpoint and policy of each side; to join efforts in effectively controlling disputes at sea and avoiding actions to complicate or/and flare up disputes; fully and efficiently execute the Declaration on the Conduct of Parties in the East Sea (DOC) while accelerating the signing of a Code of Conduct of Parties in the East Sea (COC) and dealing with any disputes by peaceful means in line with international law, including the UN Convention on the Law of the Sea in 1982 (1982 UNCLOS).

The official visit to China of Party General Secretary Nguyen Phu Trong holds great significance as it will orient the future development of the Vietnam-China relationship, consolidate friendship and stable cooperation, and create a new momentum for healthy expansion of bilateral relations between the two countries in the future.

From Vietnam’s perspective, the visit will surely be successful, opening a new page of the history of bilateral relations, friendship and cooperation between Vietnam and China.

Written by Editorial Board

Translated by Thu Nguyen