In early winter, the Longbang Port in south China\’s Guangxi Zhuang Autonomous Region bustles with activity as logistics flow and customs vehicles come and go.
Goods such as agricultural products from Vietnam enter the Chinese market through the border, and Chinese electronic products and textiles are exported to Vietnam through the same port.
A worker of a nut processing company transports raw materials imported from Vietnam in the border economic cooperation zone in Jingxi, Guangxi Zhuang Autonomous Region. (Photo/Wang Weichen)
\”In just less than half a month, I have transported goods on over 20 trucks and earned around 3,000 yuan ($420.55),\” said Yang Chengtao, a truck driver.
Yang shuttles daily between China and Vietnam. With the economic recovery in the border region, Yang\’s business has experienced a notable upturn.
The bustling economic and trade activities in the border area epitomize the strong economic and trade partnership between Guangxi and Vietnam.
Between January and November 2023, imports and exports between Guangxi and Vietnam reached 222.97 billion yuan, representing a year-on-year growth of 31 percent. By the end of 2022, Vietnam had remained Guangxi\’s largest trading partner for 24 consecutive years.
Aside from trade, Guangxi and Vietnam are deepening investment cooperation. Guangxi-based companies are proactively expanding their presence in the Vietnamese market, while Vietnamese companies are seizing the opportunity to enter the Guangxi market.
Minhyang Biochemistry Viet Nam Co., Ltd., invested by Guangxi Nongken Mingyang Biochemical Group Co., Ltd., is the largest foreign-funded production enterprise in Vietnam that specializes in the research, production, sales, and application of modified cassava starch.
The company plays an active role in enhancing the local cassava processing technology in Vietnam, facilitating the deep processing and export of agricultural products, and generates employment opportunities for the local community.
Lei Xiaohua, an expert from the Guangxi Academy of Social Sciences, said that the geographic proximity fosters a diverse and multifaceted trade relationship between Guangxi and Vietnam. This encompasses not only general trade but also small-scale cross-border trade, and trade between border residents. These factors contribute to the robust economic and trade ties between Guangxi and Vietnam.
\”The trade volume between Guangxi and Vietnam continues to surge, particularly in the agricultural sector, which will yield tangible economic benefits for China and Vietnam,\” said Jin Dan, director of the Vietnam Research Institute at the China-ASEAN Research Institute of Guangxi University.
This flourishing bilateral trade is expected to propel the growth of various industries, including processing, transportation, and cross-border cold chain logistics, thereby generating a significant number of employment opportunities. The advancement of bilateral trade will also further enhance infrastructure connectivity between Guangxi and Vietnam, facilitating smoother people-to-people exchanges.