A riverside view of Shanghai city. After 40 years of reform and opening-up, China has become the world’s second biggest economy. (Photo: Chinadaily.com)

Hanoi (VNA) –
A workshop, focusing on China’s 40 years of reform and opening-up and lessons for Vietnam was held in Hanoi on October 30.

Prof. Dr. Nguyen Quang Thuan, President of the Vietnam Academy of Social Sciences, said Vietnam and China have gained great achievements in their processes of reform, opening-up, and renewal; which have also significantly impacted economic development in each country.

However, both are facing difficulties and challenges in seeking new driving force and methods to spur economic growth, he said, noting his hope that the two countries will step up efforts to cope with and adapt to changes in the regional and global situation in a timely and flexible manner.

Yin Haihong, from the Chinese Embassy in Vietnam, stressed that after 40 years of reform and opening-up, China has become the world’s second biggest economy, contributing more than 30 percent to the global economy.

More than 700 million Chinese families have successfully escaped from poverty and the living standards of Chinese people have been improved remarkably, she added.

Yin said China has been consistent in conducting reforms towards market orientations, opening-up, and integration, while also addressing issues regarding links between reform and stable development; the relations among the State, the market, and society; economy, politics, and society; and state and non-state affairs.

She also suggested that Vietnam and China exchange experience in reform and renewal, thus contributing to boosting bilateral cooperation during the process of integration and reform.

Dr. Nguyen Xuan Cuong, Director of the Institute for Chinese Studies, described reform and opening-up as a vital force for development and progress in China, and the renewal cause as an important step for Vietnam to catch up with the era’s progress.

The two countries should scale up these efforts by applying viewpoints on reform and opening-up, he said. –VNA