Jin Rong Shi Bao·2025-12-03 01:24Core Viewpoint - The launch of the first phase of the China-Vietnam QR code payment interconnectivity allows Chinese consumers to use various payment platforms in Vietnam, marking a significant step in bilateral financial cooperation [1] Group 1: Project Launch - The China-Vietnam QR code payment interconnectivity was officially announced on December 2 in Hanoi, Vietnam [1] - The service enables Chinese consumers to make payments at merchants accepting the VietQR code using the Industrial and Commercial Bank of China (ICBC) mobile banking app and other compatible wallets [1] Group 2: Strategic Significance - This initiative coincides with the 75th anniversary of diplomatic relations between China and Vietnam and the "China-Vietnam Cultural Exchange Year" [1] - The project is part of a broader effort to enhance bilateral financial infrastructure and strengthen the strategic partnership between the two countries [1] Group 3: Institutional Role - ICBC serves as the clearing bank for this initiative and has been actively involved in facilitating China-Vietnam cooperation [1] - The bank has established a significant presence in Vietnam with a branch in Hanoi and a representative office in Ho Chi Minh City, making it the largest Chinese financial institution in the country [1]