Guangdong and Vietnam, opening up a larger economic cycle
2023-12-14
Standing at the port of Pingxiang in Guangxi or Hekou in Yunnan, only 200 kilometers away from the capital of Vietnam, Hanoi. These days, the Venus Red Flag and the Five Star Red Flag shine against each other in Hanoi. Standing at a new historical starting point, as the province with the largest trade volume between China and Vietnam, Guangdong's economic and trade cooperation with Vietnam is opening up a new space. The most significant economic and trade cooperation between the two countries has opened up a new space. China Vietnam trade accounts for 25% of China ASEAN trade. Among the provinces in China, Guangdong and Vietnam have the largest trade volume, accounting for about one-fifth of the total import and export volume of the two countries. Last year, Guangdong and Vietnam reached a new historical high in bilateral trade, with imports and exports reaching 314.9 billion yuan, a year-on-year increase of 2.6%. This year, this record is expected to be broken again. In the first 11 months alone, the import and export of both sides reached 307.06 billion yuan, a year-on-year increase of 6.4%. This is a bright light in the context of global economic slowdown. In recent years, the international situation has been complex and ever-changing, with constant challenges. Why did Guangdong and Vietnam get along so well? The key is to integrate benefits and complement needs. For Vietnam, Guangdong is the first stop to enter the Chinese market; For China, Guangdong is an important hub for extending trade and industrial chains to Vietnam and even ASEAN. From the latest data released by the Guangdong Branch of Customs, it is not difficult to see the new highlights of trade between the two sides: in the first 11 months of this year, Guangdong's steel exports to Vietnam amounted to 9.26 billion yuan, an increase of 548.6%. The significant increase in steel exports is closely related to the implementation and construction of local infrastructure and industrial projects. In the Vietnamese market, China Energy Construction Group Guangdong Electric Power Design and Research Institute Co., Ltd. has signed the Peace III 100MW offshore wind power project, as well as multiple onshore wind power projects in Deloitte and Ningshun provinces. There is huge potential for the future development of green engineering; The 375MW offshore wind power project in Jin'ou, Vietnam, signed by Mingyang Group, is the largest single offshore wind power project in Southeast Asia. Guangdong enterprises have brought raw materials, equipment, products, and technology, opened up their own markets, and strongly supported the development of Vietnam's manufacturing industry. On November 8th, Vietnam's Beijiang Province announced that Lixun Precision, headquartered in Dongguan, will invest an additional $330 million in the Beijiang factory, bringing its total investment in the local area to $504 million. "Guo Lian Yi Ge" is adding new momentum to "Made in Vietnam". Looking back at imports, more Vietnamese agricultural products conveniently enter the Chinese market from Guangdong. In the first 11 months of this year, Guangdong imported agricultural products from Vietnam worth 9.33 billion yuan, a year-on-year increase of 14%. At the Baiyun Airport Port in Guangzhou, Vietnam's fruits, seafood, fresh cut flowers, and other products are regulars. Fresh live grass shrimp come by plane, pass through the airport customs quickly, and arrive at the table of the common people. It only takes half a day at the fastest. "This year, especially during holidays, we have been busier. The import volume of fresh goods such as shrimp and crabs has increased by about 30% compared to usual," said Wang Linjun, the manager of Guangzhou Tongxing International Supply Chain Co., Ltd. Two advantages: one is a crucial area, and the other is a team of comrades and brothers, mutually beneficial and win-win. Under the new positioning, in the middle
Edit：Hu Sen Ming Responsible editor：Li Xi
Source：GD TODAY
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