Children wave Chinese and Vietnamese national flags during a welcome ceremony for China's President Xi Jinping at the Presidential Palace in Hanoi, Vietnam, December 12, 2023. /CFP

Editor's Note: Xin Ge, a special commentator on current affairs for CGTN, is an associate professor at the School of Public Economics and Administration, Shanghai University of Finance and Economics. The article reflects the author's opinions and not necessarily the views of CGTN.

Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee and Chinese president, paid a state visit to Vietnam from December 12 to 13, at the invitation of the General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong and Vietnamese President Vo Van Thuong.

On the occasion of the 15th anniversary of the comprehensive strategic cooperative partnership between China and Vietnam, this is the first visit by the top leader of the CPC to Vietnam since the 20th CPC National Congress and one year after the China visit by the top leader of the CPV in October 2022.

Xi held talks with Trong after the welcome ceremony and the two sides announced the new positioning of relations between the two parties and countries and agreed to build a China-Vietnam community with a shared future that carries strategic significance based on deepening the comprehensive strategic cooperative partnership between the two sides.

In recent years, despite the global economic challenges, the cooperation between China and Vietnam has experienced a remarkable upward trajectory. China has consistently stood as Vietnam's foremost trading partner for years, while Vietnam is currently China's largest trading partner within ASEAN and the fourth largest trading partner in the world after the U.S., Japan, and the Republic of Korea.

The bilateral trade volume in 2012 amounted to $50 billion, demonstrating a 25-fold surge compared to the figure in 2000. In 2017, it exceeded $100 billion and the trade volume surpassed the $200 billion mark in 2021 and 2022. Meanwhile, China's investment in Vietnam rose more than 10 times to $25 billion over the last 15 years. In 2023, China ranks fourth among countries and territories investing in Vietnam.

Yixin'ou (Yiwu-Xinjiang-Europe) China-Europe freight train service launched its first train to Hanoi, Vietnam, October 10, 2020. /CFP

People-to-people exchanges and cooperation between localities of China and Vietnam have recorded some practical results as well. Nearly 60 provinces and cities in China have built friendly and cooperative relationships with their counterparts in Vietnam.

The fundamental reason why China-Vietnam economic relations can maintain continuous upward momentum can be attributed to the remarkable complementarity between the two economies. China, being the world's largest manufacturing country with complete industry chains and technological advantages in various sectors, complements Vietnam's abundant agricultural, aquatic, and mineral resources. This mutual advantage creates a favorable environment for the development of economic ties between the two nations.

To deepen the bonds between China and Vietnam, President Xi put forward a notable six-point proposal aimed at building a China-Vietnam community with a shared future that carries strategic significance.

The first point emphasizes the importance of adhering to high-level strategic guidance. President Xi stressed the need for increased exchanges and mutual learning on party and state governance, and jointly deepening understanding of the ruling laws of Communist parties, as well as the laws of socialist construction and the development of human society.

Moreover, the two countries should prioritize national security and ensure the red flag of socialism is not to be changed. China firmly supports Vietnam in maintaining social stability and ethnic unity and believes Vietnam will continue to support China's efforts in opposing external interference and resolutely advancing the great cause of national reunification.

Regarding practical cooperation, President Xi commented that the modernization that includes the whole of more than 1.4 billion Chinese people is a great opportunity brought by China to the world and China is willing to share opportunities and seek common development with its Vietnamese comrades.

China also called for more input to cement the popular support for the China-Vietnam friendship. Bilateral cooperation should have a stronger focus on sectors such as agriculture, education, healthcare, and other areas that directly affect people's livelihoods, Xi said, adding that the two peoples' understanding of a China-Vietnam community with a shared future and of the traditional friendship between the two parties and countries should be deepened.

Additionally, China and Vietnam should work closely on international and regional issues. Xi affirmed that China does not engage in exclusive cliques, block politics, or camp confrontations. Instead, China is prepared to work with Vietnam to uphold genuine multilateralism and amplify the voice and influence of developing countries in global affairs.

Last but not least, Xi urged both countries to effectively manage differences on maritime issues. He suggested that active discussions and implementation of maritime cooperation projects be pursued to transform challenges posed by maritime concerns into opportunities for bilateral cooperation.

The deepened ties between China and Vietnam have the potential to serve as a valuable model for fostering collaboration between Southeast Asian countries and China. This partnership can play a significant role in promoting regional economic integration and fostering prosperity in light of initiatives such as the Regional Comprehensive Economic Partnership (RCEP) and the China-ASEAN free trade area. By leveraging the successful relations between China and Vietnam, other economies in Southeast Asia can also benefit from enhanced collaboration with China, resulting in strengthened regional economic integration and holistic development.

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Source: CGTN