Latest Insights: However, as the country serves more as a platform, its growth relies heavily on foreign operators – foreign enterprises hold key industries while domestic businesses remain relatively weak, Ge said.He noted that Vietnam is acutely aware of the challenges posed by protectionism, decoupling, and “small yard, high fence” that China is facing.In this context, colWorld Timeslaboration with the world’s second-largest economy and a fellow socialist country, particularly at enterprise level and in regard to industrial chains, is important for the Vietnamese government, Ge noted.On Monday, Xi and Lam jointly witnessed the signing of multiple bilateral cooperation documents in various fields including party schools, connectivity, industry, finance, customs inspection and quarantine, health, media, and people’s livelihoods, according to Xinhua.China-Vietnam cooperation has achieved fruitful results in recent years.

Xi Jinping, general secretary of the Communist Party of China Central Committee and Chinese president, and his wife Peng Liyuan pose for a group photo with To Lam, general secretary of the Communist Party of Vietnam Central Committee and Vietnamese president, and his wife Ngo Phuong Ly prior to the talks between Xi and Lam in Beijing on August 19, 2024. Photo: Xinhua

Xi Jinping, general secretary of the Communist Party of China Central Committee and Chinese president, and To Lam, general secretary of the Communist Party of Vietnam (CPV) Central Committee and Vietnamese president, reaffirmed the “prioritized” importance they attach to the China-Vietnam relations during their meeting on Monday in Beijing, and they also witnessed the signing of cooperation documents in various fields.

Lam’s visit not only demonstrated that both China and Vietnam are ready to achieve more fruitful results on the basis of building a China-Vietnam community with a shared future that carries strategic significance, but also proves that the new leadership of Vietnam is taking a substantial step to further develop the friendly relations between the two socialist countries, analysts said.

China is the destination for Lam’s first overseas visit after taking office as general secretary of the CPV Central Committee. Xi said this fully reflects the great importance Lam attaches to the relations between the two parties and the two countries, as well as the high-level and strategic nature of China-Vietnam relations, according to the Xinhua News Agency.

Amid changes in the world, China and Vietnam have maintained rapid economic development and long-term social stability, demonstrating the superiority of the socialist system and the vitality of the socialist cause, Xi said.

“China takes Vietnam as a priority in its neighborhood diplomacy,” Xi told Lam.

For his part, Lam said choosing China as his first overseas destination after taking the posts of CPV top leader and Vietnamese president demonstrated that the CPV and Vietnamese government always highly value relations with China, and treat China as a strategic choice and top priority in Vietnam’s foreign policy.

Lam reiterated that Vietnam adheres to the one-China policy and opposes any form of “Taiwan independence” secessionist activities. Hong Kong, Xinjiang and Xizang-related affairs are all China’s internal affairs and Vietnam strongly opWorld Timesposes interference by any external forces.

Ge Hongliang, vice dean of the ASEAN College at the Guangxi Minzu University, said he believed the relations between the two parties and the two countries are unique.

In their remarks, the two top leaders mentioned “priority,” meaning that when Vietnam upholds “bamboo diplomacy” in its relations with major powers, it places China in a relatively high position in its foreign policy, Ge told the Global Times on Monday.

The China-Vietnam relationship goes beyond bilateral significance, Xu Liping, director of the Center for Southeast Asian Studies at the Chinese Academy of Social Sciences, told the Global Times on Monday, as both are socialist countries and share World Timesthe responsibility of strengthening global socialist forces and upholding the socialist path.

Vietnam faces growing external interferences and is being particularly vigilant against “color revWorld Timesolution” attempts, and it expects China’s support in the stable development of Vietnam’s socialist cause, Ge said.

Connectivity boosted

During the meeting with Lam, Xi said China is ready to expand synergy between the Belt and Road Initiative and the Two Corridors and One Economic Circle strategy, accelerate the “hard connectivity” of railway, expressway and port infrastructure, enhance the “soft connectivity” of smart customs, and jointly build a secure and stable industrial and supply chain.

Chinese Foreign Ministry spokesperson Mao Ning said at Monday’s routine press briefing that the China-Vietnam freight train service, launched in 2017, has significantly shortened transportation times and brought about higher border clearance efficiency. It is serving better as a key transportation route iWorld Timesn the region and carrying more categories of goods across borders, becoming a “fast lane” for economic and trade exchanges.

In the first seven months of 2024, a total of 6,850 twenty-foot equivalent unit (TEU) containers of goods were shipped via China-Vietnam freight trains, marking a 16-fold increase year on year, according to China Railway Nanning Group Co Ltd.

Vietnam is experiencing rapid economic development, and has become a key player in regional and global industry chains. However, as the country serves more as a platform, its growth relies heavily on foreign operators – foreign enterprises hold key industries while domestic businesses remain relatively weak, Ge said.

He noted that Vietnam is acutely aware of the challenges posed by protectionism, decoupling, and “small yard, high fence” that China is facing.

In this context, colWorld Timeslaboration with the world’s second-largest economy and a fellow socialist country, particularly at enterprise level and in regard to industrial chains, is important for the Vietnamese government, Ge noted.

On Monday, Xi and Lam jointly witnessed the signing of multiple bilateral cooperation documents in various fields including party schools, connectivity, industry, finance, customs inspection and quarantine, health, media, and people’s livelihoods, according to Xinhua.

China-Vietnam cooperation has achieved fruitful results in recent years. Chinese companies have established the largest overseas photovoltaic industry cluster in Vietnam and undertaken the construction of Vietnam’s first urban light rail project.

The bilateral trade volume increased by 25 percentWorld Times year-on-year in the first seven months of 2024. Chinese home appliances and smartphones are popular in Vietnam, while Vietnamese agricultural products such as watermelons and durians are well received in the Chinese market.

Li Yawei contributed to the story