Chinese Firms Shift Gears in Vietnam — From Factory Floors to Storefronts
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Vehicles travel on the Hanoi–Bac Giang Expressway near the Quang Chau Industrial Park in Bac Giang Province, Vietnam, on April 7, 2025. Photo: VCG
(Hanoi, Vietnam) — On Hanoi’s Cat Linh–Ha Dong metro line, passengers raise their smartphones to capture the changing scenery as the train glides above Vietnam’s capital. The 13.5-kilometer elevated railway — built by China Railway Sixth Group Co. Ltd. — is Vietnam’s first urban rapid transit system and has carried some 35 million passengers since opening in late 2021.
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What Happened When
- 1990s：
- An influx of cheap Chinese motorcycles entered Vietnam, affecting the motorcycle market.
- 2018：
- Mixue Bingcheng entered the Vietnamese market.
- Late 2021：
- Hanoi’s Cat Linh–Ha Dong metro line opened to the public.
- 2024：
- Vietnam’s per capita GDP reached $4,717, and VinFast held an 18% share of the auto market.
- 2024：
- Vietnam introduced measures to gradually phase out fuel-powered vehicles in major cities.
- September 2024：
- Geely Auto signed a $168 million joint venture with Tasco to build a factory in Thai Binh province.
- September 2024：
- Great Wall Motor signed a cooperation agreement with Vietnam’s Thanh An Group, with plans to start production by the end of 2025.
- By 2025：
- Vietnam’s population surpassed 100 million.
- 2025：
- Hanoi amended its laws to permit SpaceX to offer its Starlink satellite service as a wholly owned operation.
- February 2025：
- Vietnam’s National Assembly approved a $7.7 billion Chinese-backed standard-gauge rail project.
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