Circular 17/2025/TT-NHNN amends Circular 19/2018/TT-NHNN on foreign exchange management of Vietnam-China border trade activities

CIRCULAR

Amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 19/2018/TT-NHNN of August 28, 2018, guiding the foreign exchange management of Vietnam - China border trade activities

Pursuant to Law No. 46/2010/QH12 on the State Bank of Vietnam;

Pursuant to Law No. 32/2024/QH15 on Credit Institutions;

Pursuant to Ordinance No. 28/2005/PL-UBTVQH11 on Foreign Exchange, which was amended and supplemented under Ordinance No. 06/2013/UBTVQH13;

Pursuant to the Government’s Decree No.14/2018/ND-CP of January 23, 2018, providing in detail border trade activities, which was amended and supplemented under the Government’s Decree No.122/2024/ND-CP of October 4, 2024;

Pursuant to the Government’s Decree No.26/2025/ND-CP of February 24, 2025, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

In furtherance of the Border Trade Agreement signed on September 12, 2016, between the Governments of the Socialist Republic of Vietnam and the People’s Republic of China and the Payment and Cooperation Agreement signed on May 26, 1993, and revised on October 16, 2003, between the State Bank of Vietnam and the People’s Bank of China;

At the proposal of the Director of the Foreign Exchange Management Department;

The Governor of the State Bank of Vietnam promulgates the Circular amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 19/2018/TT-NHNN of August 28, 2018, guiding the foreign exchange management of Vietnam-China border trade activities.

Article 1. To amend and supplement a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 19/2018/TT-NHNN of August 28, 2018, guiding the foreign exchange management of Vietnam-China border trade activities

1. To amend and supplement Article 4 as follows:

“Article 4. Payment methods

1. Via-bank payment, including:

a/ Payment in freely convertible foreign currencies via licensed banks under current regulations on foreign exchange management;

b/ Payment in CNY via border bank branches;

c/ Payment in VND via border bank branches.

2. Clearing payment (payment for differences in goods and service import-export clearance transactions in Vietnam-China border trade activities) shall be paid via licensed banks”.

2. To amend and supplement Clause 3, Article 9 as follows:

“3. Clearing payment (payment for differences in goods and service import-export clearance transactions in Vietnam-China border trade activities) shall be paid via licensed banks”.

3. To amend and supplement Clause 2, Article 21 as follows:

“2. For every quarter, before the 20^th of the first month of the following quarter, licensed banks with border bank branches shall make reports according to the forms provided in Appendices II, III and IV to this Circular, then send them to the State Bank of Vietnam (the Foreign Exchange Management Department) and the State Bank branches in areas having border provinces.”.

4. To amend and supplement Clause 4, Article 22 as follows:

“4. Heads of related units of the State Bank of Vietnam, licensed banks, related organizations and individuals shall implement this Circular”.

Article 2. To replace and annul a number of phrases, points, clauses and articles of, and appendices to, the Governor of the State Bank of Vietnam’s Circular No. 19/2018/TT-NHNN of August 28, 2018, guiding the foreign exchange management of Vietnam-China border trade activities

1. To annul Article 5.

2. To annul Point b, Clause 1, Article 6.

3. To annul Point a(ii), Clause 1, Article 11.

4. To annul Clause 1, Article 17

5. To replace the phrase “State Bank branches in border provinces” with the phrase “State Bank branches in areas having border provinces” in the title of Article 18 and in Clause 2, Article 18.

6. To annul Appendix No. 01 to Circular No. 19/2018/TT-NHNN.

7. To replace Appendices No. 02, No. 03 and No. 04 to Circular No. 19/2018/TT-NHNN with Appendices II, III and IV to this Circular.

Article 3. Responsibility to organize the implementation

Heads of related units of the State Bank of Vietnam, licensed banks, and related organizations and individuals shall implement this Circular.

Article 4. Implementation provision

This Circular takes effect on September 15, 2025.-

For the Governor of the State Bank of Vietnam
Deputy Governor
PHAM QUANG DUNG

* The appendices to this Circular are not translated.