HANOI, Sept. 26 -- Vietnam held a seminar on Friday discussing China's transformation of development method and experiences for the country in capital Hanoi.

The event was held by the Institute of Chinese Studies under Vietnam Academy of Social Sciences, drawing the attendance of Chinese Ambassador to Vietnam Hong Xiaoyong, and Vietnam's experts and scholars in Chinese studies, among others.

Addressing the seminar, Nguyen Quang Thuan, Vice President of Vietnam Academy of Social Sciences and Director of Institute of Chinese Studies, said Vietnam and China are two neighboring countries which share many things in common, including those in culture, politics and economy.

Vietnam and China are both in a crucial period of economic development process, especially while Vietnam is accelerating the restructuring of the economy, shifting the growth model and ensuring sustainable development.

China's transformation of economic development model relates closely with the development in the region and the world as well as the restructuring of Vietnamese economy. China's experiences in the field will be lessons for Vietnam, said Thuan.

Ambassador Hong Xiaoyong, for his part, said China and Vietnam, under the leadership of communist parties, are facing important missions on reform and development.

Constantly deepening experience exchanges between the two sides in state governing is of great significance, Hong said, adding that China is willing to go along with Vietnam for joint development, and to bring the reform and renovation career to benefit both countries' peoples.