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Update news chinese market
China is a top export market for Vietnam’s farm produce, with $7.04 billion worth of produce exported in the first seven months of 2024, an increase of 11.3 percent over the same period last year.
China has become the largest consumer of animal feed and raw materials from the nation, accounting for 40.7% of the country’s total export turnover of animal feed and raw materials, heard a conference held on August 14 in Hanoi.
Many Vietnam busineses that want to sell products to China, with more than one billion consumers, need guidance on how to enter the market.
One enterprise has complained that it had to wait too long to get a code to export sliced cassava to China, and others say that Vietnam packaging codes have been suspended. But this could be different if Vietnam applied digital technology.
Chinese electric vehicle (EV) maker BYD has chosen Vietnam as a key market for its development in Southeast Asia, Vo Minh Luc, CEO of BYD Auto Vietnam, has said.
Vietnam’s durian growing area has been increasing rapidly, with durian exports to the Chinese market setting new records.
The General Administration of Customs of China has officially notified the Vietnam Department of Animal Health that it has approved the export quarantine certificate for Vietnamese monkeys.
Khanh Hoa Bird’s Nest Company’s entry into the Chinese market marks a significant milestone for Vietnam’s bird’s nest industry.
“Many buyers have come and placed orders. Sometimes we receive several groups of buyers each day,” said Phan Minh Thong, chair of Phuc Sinh Group.
Vietnam's billion-dollar durian is entering its main harvest season with an estimated output of 1.5 million tons, a significant increase from last year. However, this commodity will face new competition in the Chinese market from Malaysia.
Vietnam’s farm specialties for export, including durian, fresh coconut, crocodile, chili and passion fruit, have seen high profits.
The Vietnamese market is witnessing a surge of Chinese electric cars since 2023, with five brands entering in just the past 12 months, covering all segments from mini cars to SUVs and MPVs.
Chinese traders have flocked to Bac Giang province to buy large quantities of lychees, driving prices to a historic high.
With regard to passion fruit and chili products that have been exported on a pilot basis, the two sides agreed to accelerate the completion of procedures for signing these two documents in the near future.
An upward trend has been recorded in Chinese recent investments in Vietnam, which is hoped to help fuel the industries the country has demand for such as high technology, renewables, supporting industries, electronics, and green finance.
Chinese companies face great challenges selling their cars in Vietnam.
Many exporters are boosting farm exports to China by rail, thanks to it being quick, cheaper and a more reliable form of transport.
Vietnam has been named among the top 10 favourite destinations for Chinese tourists during the May Day holiday, according to Chinese travel data platform Qunar.
Alibaba has initiated plans to build a data hub in Vietnam in order to store data locally in compliance with legal requirements, according to details given by Nikkei Asia.
There remains ample room for Vietnam's exports to China and the growth will be directly proportional to the quality improvement of products by domestic enterprises.