China and Vietnam Sign 10 New Agreements

During Chinese Premier Li Qiang's three-day visit to Hanoi, Vietnam and China signed 10 agreements aimed at strengthening bilateral ties, including those on agriculture cooperation and cross-border QR code payments. These agreements reflect efforts to boost economic and trade relations, with China remaining Vietnam's largest trading partner and a 21% trade increase in the first three quarters of the year. Both nations expressed interest in enhancing cross-border railway connections, though specific plans and costs remain undefined. Additionally, they agreed to increase defense and security cooperation amid ongoing tensions in the South China Sea. The agreements also include a memorandum on cross-border payment services and a proposal for an 'economic cooperation zone' along their border. Vietnamese officials have urged China to facilitate market access for agricultural products and improve customs processes at the border.