Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Senior Chinese leader to visit Vietnam amid sea tension

Published 12/22/2014, 05:30 AM
Updated 12/22/2014, 05:30 AM
© Reuters. China's Yu, chairman of the CPPCC, is escorted by staff members as he arrives at the Foreign Ministry in Rabat

BEIJING (Reuters) - A senior Chinese leader will visit Vietnam this month, China's state media said on Monday, amid tension between the neighbors over competing claims in the South China Sea.

Yu Zhengsheng, who heads a largely ceremonial advisory body to China's parliament but is ranked fourth in the Communist Party leadership, will be going at the invitation of Vietnam's Communist Party, the official Xinhua news agency said.

It provided no other details.

Anti-Chinese violence flared in Vietnam in May after a $1 billion deepwater rig owned by China's state-run CNOOC oil company was parked 240 km (150 miles) off the coast of Vietnam in the South China Sea.

Since then, though, China has sought to make amends with Vietnam, including sending senior officials to Hanoi.

However, the two countries clashed again this month after Vietnam submitted its position to an international arbitration tribunal, initiated by the Philippines, over the festering dispute that involves several countries.

Communist parties rule both countries and their trade has swelled to $50 billion annually, but Vietnam has long been suspicious of its giant neighbor, especially over China's claims to almost the entire South China Sea.

China claims about 90 percent of the South China Sea, displaying its reach on official maps with a so-called nine-dash line that stretches deep into the maritime heart of Southeast Asia.

© Reuters. China's Yu, chairman of the CPPCC, is escorted by staff members as he arrives at the Foreign Ministry in Rabat

Malaysia, Brunei and Taiwan also have claims to parts of the potentially energy-rich waters that are crossed by key global shipping lanes.

(Reporting by Ben Blanchard; Editing by Robert Birsel)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.