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China has been Vietnam's largest trading partner over the past 13 years. Bilateral trade last year was valued at nearly 0 billion.
China climbed to 17 in the rankings from 22 last year.
China has officially approved 5G commercial services earlier in June, and is currently testing 5G across all major cities and provincial regions. The country's 5G market is expected to start small-scale commercial use this year and large-scale commercial use next year.
China has pledged a more proactive and effective fiscal policy in 2017 to support economic growth, with the fiscal deficit set at 3 percent of its GDP, or 2.38 trillion yuan, for the year, up 200 billion yuan from 2016.
China has faced heavy capital outflow pressure in recent years, with its foreign exchange reserves falling to about trillion at the end of 2016 from nearly trillion in 2014. As the country's economic fundamentals improve and its management of cross-border capital flow has strengthened in recent months, the situation has stabilized, with foreign exchange reserves rising for five consecutive months by June.
