On August 28, 2018, the Governor of the State Bank of Vietnam issued Circular No. 19/2018/TT-NHNN guiding foreign exchange management for border trade between Vietnam and China.
Article table of contents
Notably, from October 12, 2018, the currencies used for cross-border trade between Vietnam and China conducted by traders are convertible foreign currencies, VND or CNY.
According to Circular No. 19/2018/TT-NHNN of the State Bank of Vietnam, payment methods include:
- Bank transfer, including: payment in convertible currency through licensed banks as per provisions of the law in force regarding foreign exchange management; transfer of CNY through bordering branches; transfer of VND through bordering branches;
- Payment in VND or CNY;
- Payment for the difference in value between exports and imports.
View details at PRESS RELEASE on promulgation of the Circular guiding foreign exchange management for border trade between Vietnam and China.
View full text at Circular No. 19/2018/TT-NHNN of the State Bank of Vietnam, effective from October 12, 2018.
- Key word:
- Circular No. 19/2018/TT-NHNN
