Anti-China protests in Vietnam will deter Chinese investment and lead to local job losses. Many Chinese companies and traders have initiated contingency plans and stopped trade activities to safeguard employees and minimize financial losses.

Rioters attacked Vietnam's biggest steel plant overnight as violent anti-China protests spread and escalated in the country.

Vietnam's Industry and Trade Minister Bui Quang Vinh told local newspaper Tien Phong that if the violence can't be contained, the country's economic development will be damaged because foreign companies will abandon ideas of investing in Vietnam.