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Conference in Beijing Highlights Sino-Vietnamese Cooperation in State-owned Assets Supervision and SOE Reform

Updated: April 26, 2024

On April 9, the Sino-Vietnamese State-Owned Assets Supervision and State-Owned Enterprise (SOE) Reform Exchange Conference was held in Beijing.

Vuong Dinh Hue, Member of the Political Bureau of the Communist Party of Vietnam (CPV) Central Committee and Chairman of the National Assembly of Vietnam, attended the meeting. Tran Luu Quang, Member of the CPV Central Committee and Deputy Prime Minister of Vietnam, also attended the meeting and delivered an opening speech.

Zhang Yuzhuo, Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) of China, and Nguyen Hoang Anh, Chairman of the Vietnamese Commission for Management of State Capital at Enterprises (CMSC), attended and delivered speeches. Wang Hongzhi, Vice Chairman of SASAC, and Do Huu Huy, Vice Chairman of the CMSC, shared experiences on state-owned assets supervision and SOE reform practices of their respective countries.


Tran Luu Quang stated that in December 2023, Chinese President Xi Jinping, also General Secretary of the Communist Party of China Central Committee, paid a state visit to Vietnam, and both sides announced a new characterization of their bilateral relationship.

He expressed his hope that Vietnamese SOEs, together with Chinese central SOEs, would further exchange practical experiences in SOE reform and state-owned asset management, jointly explore mechanisms for cooperation, enhance exchanges between and training for senior management of SOEs, strengthen strategic alignment in investment cooperation in agricultural infrastructure, energy transformation, the digital economy and green economy, among other areas, so as to further enhance the comprehensive strategic partnership and build a strategically significant Vietnam-China community with a shared future, thus better serving economic and social development and benefiting the two peoples.

Zhang said that Xi Jinping, General Secretary of the CPC Central Committee and Chinese president, and Nguyen Phu Trong, General Secretary of the CPV Central Committee, jointly announced to build a strategically significant China-Vietnam community with a shared future at the end of last year, outlining the direction for the comprehensive strategic cooperation between China and Vietnam in the new era.

Chinese central SOEs and Vietnamese SOEs have actively implemented the important consensus reached by the two heads of state, and have carried out a large amount of effective work around key issues, reaching new heights in consensus, achieving new results in experience exchange, and taking new steps in practical cooperation, which has played a positive role in consolidating and strengthening the special friendship between the two countries.

He called on the two sides to further deepen cooperation, and stick to a long-term perspective and win-win cooperation to serve the development of both countries, including continuously strengthening strategic coordination in areas such as infrastructure, industrial investment, trade and agriculture, turning SOEs cooperation into an important fulcrum for the development of relations of the two parties and two countries; further consolidating consensus, with the mission and vision of building world-class enterprises and leading enterprises in the industry, as well as building more open and vibrant modern SOEs to make more contributions to the well-being of the people; further enhancing communication, focusing on the development of new quality productive forces, guiding enterprises to vigorously promote technological innovation, boosting the high-end, intelligent and green transformation of traditional industries, nurturing strategic emerging industries and industries of the future, accelerating the layout of new fields and new tracks, and continuously adding to the development momentum of SOEs; further promoting mutual learning, the joint exploration of scientific and effective state-owned assets supervision systems and SOE development concepts, reform paths and governance methods, actively sharing experiences in state-owned assets supervision and SOE reform, guiding SOEs of both countries to follow the laws of the market economy and the laws of enterprise development, deepening market-oriented reforms, continuously stimulating endogenous vitality, and enhancing their sustainable development capabilities; and further making concerted efforts, focusing on strengthening investment cooperation in infrastructure, energy, the digital economy, and green development under the framework of the Belt and Road Initiative and Two Corridors and One Economic Circle, promoting the deep integration of the industrial and supply chains between China and Vietnam, and making positive contributions to advancing socialist modernization.

Nguyen Hoang Anh praised the significant achievements made in China's SOE reform and development, stating that in recent years, Vietnamese SOEs and Chinese central SOEs have maintained close communication and deepened cooperation, jointly achieving a series of important results and bringing tangible benefits to the people of both countries.

CMSC is willing to further deepen friendly exchanges with its Chinese counterpart, continuously learn from each other, and better promote the development of SOEs.

He encouraged the continuous strengthening of exchange, the sharing of policies and measures in the field of state-owned assets supervision and SOE reform, exchanging good practices that better play the role of the state-owned economy, and helping Vietnam further improve its state-owned assets supervision system and mechanism; and strengthening mutually beneficial cooperation, promoting the continuous deepening of practical cooperation between enterprises in key areas of the national economy, such as transportation infrastructure, communications, energy and finance, jointly advancing the common cause of socialism, and achieving mutual benefits and win-win results.

During the meeting, heads of China Telecom Corporation Limited, State Power Investment Corporation Limited, Vietnam Railways and Vietnam State Capital Investment Corp delivered speeches.

Prior to the meeting, Gou Ping, Vice Chairman of SASAC, met with Do Huu Huy, Vice Chairman of CMSC, at SASAC, and exchanged views in areas such as advancing the exchange of SOE reform between the two countries and promoting practical cooperation between SOEs.

Relevant departments and bureaus of SASAC, heads of 23 Chinese central SOEs, relevant departments of the Vietnamese government and CMSC, and heads of 18 Vietnamese SOEs attended the meeting.

(Executive editor: Niu Yilin)