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A narrow street on the Sino- Vietnamese border, commonly known as the Vietnamese Street, in southwest China's Yunnan Province, has flourished into a symbol of the booming cross-border trade.
More than 1,000 Vietnamese opened shops on this business
street, and established trade ties with a neighboring street dominated mainly by shops run by people from Yunnan and other elsewhere in China.
Chinese businessmen have sold farm-use goods, fine grain strains, machine tools and motorcycles from other Chinese provinces to Vietnamese customers, while traders from Viet Nam have brought iron ore and timber to China. Group by group of Vietnamese women cross the border with heavy bags of Chinese goods on their backs or shoulders.
It has given an impetus to the economic development of Hekou county in Yunnan province, and access for Chinese goods to southeast and south Asia.
Due to brisk business on the street, the border trade in Hekou county has risen over the past decade. It was valued at 1.6 billion yuan (about US$193 million) last year, 3.7 times the 1997 figure. The border trade value in the first two months this year came to 205.56 million yuan (some US$24 million).
Yi Qi, an official of the Hekou county, attributed the booming border market to support from the governments of both China and Viet Nam. Officials on the two sides meet once a quarter to exchange information. Moreover, they have also simplified cross- border formalities and extended Customs hours.
(eastday.com April 21, 2003)
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