Vietnam – second largest trade partner of China
(VOV) -Vietnam was China’s second largest trading partner for 2014 with the two-way trade turnover jumping 8.3% on-year to US$480 billion, according to the China-ASEAN Business Council (CABC).
In its fourth quarter report, the CABC said Vietnam accounted for 11.16% of China's total exports. China’s largest trading partner for the year was Malaysia.
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In its report, Xu Ningning, CABC Executive-General, forecasted trade for 2015 between the nations to increase on the back of the AEC formation by the end of the year.
He also predicted bilateral foreign direct investment between the two countries would hit a record high of US$150 billion by 2020.