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Nguyen Xuan Phuc said Vietnam actively supports the BRI and is willing to build greater synergy of the two countries' development strategies.

Since 2016, China has cut crude steel capacity by more than 150 million tonnes and cut outdated coal capacity by 810 million tonnes.

Citing the "co-movement" of the RMB with other currencies in the world, Schipke said the international monetary system might be moving away from the bipolar U.S. dollar and the euro blocs to a tripolar system. "That probably means that there will be additional demand for RMB bonds," he said.

More air links can be expected as the two sides agreed to facilitate airlines from each other to do business and ease the market access for them, according to the communique.

At the crucial stage in winning the battle against poverty, heads of Party committees and governments at the provincial level should take up their responsibilities, he said.