Vietnam and China signed ten economic agreements on Sunday to enhance trade cooperation and the railway sector during the visit of Chinese Premier Li Qiang to Hanoi.
The agreements include a railway connection project between Lao Cai in northern Vietnam and Hekou in China, as well as a memorandum of understanding to establish a cross-border payment system using QR codes.
This comes amid rising tensions between the two countries over the South China Sea and reflects Beijing’s desire to counter increasing U.S. influence in the region.