China, Vietnam sign agreement.The Hainan Hainan (hī`nän`), island and province (1994 est. pop. 6,910,000), c.13,100 sq mi (33,940 sq km), China, in the South China Sea. The province, created in 1988, is coextensive with Hainan Island; Haikou is its capital, largest city, and major Natural Rubber Industry Corporation (HNRIC), China's number one rubber producer, signed a framework cooperation agreement with the Vietnam Vietnam (vēĕt`näm), officially Socialist Republic of Vietnam, republic (v), 128,400 sq mi (332,642 sq km), Southeast Asia. Occupying the eastern coastline of the Southeast Asian peninsula, Vietnam is bounded by China on the north, by Laos General Rubber Corporation (VGRC). The move is regarded as a big step forward in rubber trade cooperation between China and Vietnam, said Wu Yatong This article or section may contain original research or unverified claims. Please help Wikipedia by adding references. See the for details. This article has been tagged since September 2007. , president of the Chinese rubber giant, which is based in China's southernmost island province of Hainan. "The cooperation between the two companies will also help the two countries play a more important role in the global industry of natural rubber, giving them more say in the natural rubber price and thus protecting their interests," said Wu. The cooperation between the two will cover marketing, research and development, and information sharing See data conferencing. , said Wu. HNRIC will provide its state-run Vietnamese partner with E-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. service to help it open up the rubber market in China. Founded earlier this year, HNRIC has integrated all the state farms in Hainan, where 280,000 tons of natural rubber are produced annually, accounting for half of China's total output. With 40 subsidiaries and 39 farms, VGRC is the largest rubber company in Vietnam. Its annual natural rubber output is more than 300,000 tons, accounting for 70% of the country's total output. Vietnam is currently the world's sixth largest rubber producer after China. China is the largest rubber consumer in the world. China consumed con·sume v. con·sumed, con·sum·ing, con·sumes v.tr. 1. To take in as food; eat or drink up. See Synonyms at eat. 2. a. 1.85 million tons of rubber in 2004, 1.26 million tons of which was imported. |
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