The purpose of this research was to examine empirically the causal relationships among push factors, pull factors, risk perception, tourists’ perceived value and loyalty of Chinese tourists travelling to Ho Chi Minh City. A survey was conducted investigating 470 Chinese tourists to collect the primary data. As a result, Chinese tourists’ loyalty towards Ho Chi Minh City could be predicted by some of their push motivation, pull motivation and their perceived value about the trip or tourists’ services received. | Factors affecting Chinese tourist’s loyalty towards Ho Chi Minh city - a mediation analysis of tourists’ perceived value