China, the biggest natural rubber importer of Vietnam, will next year intensify import of the Vietnamese product to feed its growing rubber sector, local newspaper Vietnam Economic Times on Tuesday quoted a Chinese industry official as saying.
China's annual demand for natural rubber is 1.7 million tons, at least 70 percent of which are met by imports from such countries as Vietnam, Thailand and Indonesia, Ju Hongzhen, chairman of China Rubber Industry Association, said after a recent meeting with the Vietnam Rubber Association in Vietnam.
Besides buying natural rubber, Chinese enterprises can form joint ventures with Vietnamese partners to build rubber processing plants in Vietnam, he said.
If Vietnam's relevant policies are favorable, Chinese firms can build rubber plants with monthly capacity of 20,000-30,000 tons of products in Vietnam, he said.
Vietnam supplied 648,000 tons of rubber worth 1.2 billion U.S. dollars to the world market in the first 11 months of this year, up 1.6 percent and 5.3 percent, respectively, against the same period last year, according to the country's General Statistics Office.
Source: Xinhua
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