Recently, a meeting to promote China-Vietnam banking cooperation was held in Hekou, Yunnan Province, where Chinese enterprises and Vietnamese bank representatives reached a consensus on trade facilitation and border trade settlement between China and Vietnam. It is reported that Chinese companies initiated border trade settlement business with Vietnamese banks as early as 1994 in Yunnan Province. Through transactions between the Chinese Yuan Renminbi and Vietnamese Dong, they created cross-border settlement channels and offered unique cross-border financial services. With the deepening of cross-border financial cooperation, breakthroughs in international business have been continuously made, achieving nearly 30 innovative services and financial products. Since the full reopening of the Hekou border crossing between China and Vietnam, the number of people and cargo volume in May passing through the Hekou port in Yunnan both exceeded one million.
