This is Li’s first official visit to Vietnam in his new position, and also the first by a Chinese Premier over the past 11 years. It takes place at the time when the two countries are preparing for celebration of the 75th anniversary of the bilateral diplomatic ties in 2025, and following important visits by their high-ranking leaders.
Prime Minister Pham Minh Chinh (L) and Chinese Premier Li Qiang review the guard of honor in Hanoi, on Oct. 13, 2024. Photo by VnExpress/Giang Huy |
The visit is expected to help strengthen the relations between the two Parties and countries intensively, practically, and comprehensively, meeting the aspirations and common interests of the two countries’ people, for peace, cooperation, and development in the region and the world.
The two PMs inspected the guard of honor, and then visited an exhibition featuring Vietnam and its people, as well as the thriving relations between the two countries, which is jointly organized by the Government Office and the Vietnam News Agency, before holding talks.
Earlier, right after arriving in Hanoi on Oct.12 afternoon, Li met with Vietnam's Party General Secretary and State President To Lam. During his visit, the Chinese Premier is scheduled to meet with Chairman of the National Assembly Tran Thanh Man, and join with PM Chinh to attend the Vietnam – China Business Forum and some other activities.
Prime Minister Pham Minh Chinh and Chinese Premier Li Qiang pose for photos before holding talks in Hanoi on Oct. 13, 2024. Photo by VnExpress/ Giang Huy |
China has continuously been Vietnam's largest trading partner and Vietnam's second largest export market. Vietnam is China's largest trading partner in ASEAN and China's 5th largest trading partner in the world. Bilateral trade reaching US$171.9 billion in 2023 and $148.6 billion in the first nine months of 2024.
China's investment in Vietnam reached $4.47 billion with 707 projects in 2023, making it the 4th largest investor in Vietnam in terms of registered capital and the largest in number of projects.
In the first nine months of 2024, China was the second largest foreign investor in Vietnam with registered capital totaling $3.2 billion, accounting for 13% of the FDI in Vietnam.
By August 2024, China had invested $29 billion in Vietnam, ranking 6th among 148 countries and territories investing in Vietnam with more than 4,800 projects.