HCM City hosts forum to boost capital flows from China

Wednesday, Dec 06, 2017 17:26

The Shenzhen Stock Exchange and Bank of China (BOC) sign an agreement on Tuesday to help connect Vietnamese projects and Chinese capital. — Photo courtesy of BOC

The Shenzhen Stock Exchange and the HCM City branch of the Bank of China organised the China-Viet Nam capital co-operation forum on Tuesday to strengthen the financial links between the two countries.

The exchange and the lender signed an agreement at the event for a cross-border capital service mechanism, which is an online platform that will match Vietnamese projects with potential investors in China.

Participants at the forum discussed ways to promote two-way capital flows and support small- and medium-sized enterprises.

China is now the eighth largest foreign investor in Viet Nam. Figures from Viet Nam’s Ministry of Planning and Investment show that as of November Chinese companies have invested US$12 billion in 1,774 projects.

The investment has been in 10 sectors, mainly manufacturing and processing.

At the end of the third quarter bilateral trade had risen by 20.5 per cent year-on-year to $82.3 billion.

It is expected to hit the $100 billion mark this year. — VNS

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