Legal Counselling

Payment methods in trading activities across the Vietnam - China border

19:16, 30/09/2018

On August 28, 2018, the State Bank of Vietnam issued Circular No. 19/2018/TT-NHNN guiding foreign exchange management for border trade between Vietnam and China.

According to Circular No. 19/2018/TT-NHNN of the State Bank of Vietnam, traders' activities of buying, selling and exchanging goods and services across the Vietnam-China border may be paid by the following methods:

1. Bank transfer, including:

- Payment in convertible foreign currencies;

- Transfer of CNY through bordering branches;

- Transfer of VND through bordering branches.

2. Payment in VND or CNY cash.

3. Payment for the difference in value between exports and imports traded by borderers (bank transfer as prescribed above).

Besides, the currencies used for cross-border trade between Vietnam and China conducted by traders are convertible foreign currencies, VND or CNY.

View relevant provisions at Circular No. 19/2018/TT-NHNN of the State Bank of Vietnam, effective from October 12, 2018.

- Thanh Lam -

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