Circular 55/2024/TT-NHNN amend Circular 19/2018/TT-NHNN guiding the foreign exchange management of Vietnam-China border trade

CIRCULAR

Amending and supplementing Clause 4 Article 2 of the Circular
No. 19/2018/TT-NHNN dated August 28, 2018 of the Governor of the State Bank of Vietnam, on guiding the foreign exchange management with regard to Vietnam-China border trade activities

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Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated January 18, 2024;

Pursuant to the Ordinance on Foreign Exchange dated December 13, 2005; the Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange dated March 18, 2013;

Pursuant to the Government's Decree No. 14/2018/ND-CP dated January 23, 2018, prescribing in detail border trade activities; the Government's Decree No. 122/2024/ND-CP dated October 04, 2024, on amending and supplementing a number of articles of the Government’s Decree No. 14/2018/ND-CP dated January 23, 2018, prescribing in detail border trade activities;

Pursuant to the Government's Decree No. 102/2022/ND-CP dated December 12, 2022, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam; the Government's Decree No. 146/2024/ND-CP dated November 6, 2024, amending, supplementing and annulling a number of articles of the Government’s Decree No. 102/2022/ND-CP of December 12, 2022, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam, and the Government’s Decree No. 26/2014/ND-CP of April 7, 2014, on the organization and operation of banking inspection and supervision bodies, which was amended and supplemented under the Government’s Decree No. 43/2019/ND-CP of May 17, 2019;

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 Circular No. 19/2018/TT-NHNN dated December 25, 2015 of the Governor of the State Bank of Vietnam defining the licensing, organization and operation of non-bank credit institutions.

Article 1. Amending and supplementing Clause 4 Article 2 of the Circular No. 19/2018/TT-NHNN dated August 28, 2018 of the Governor of the State Bank of Vietnam, on guiding the foreign exchange management with regard to Vietnam-China border trade activities as follows:

“4. Branches of licensed banks which are located in Vietnam-China border provinces (hereinafter referred to as border bank branches).”

Article 2. Responsibility of implementation organization

Heads of relevant units under the State Bank of Vietnam, commercial banks, and foreign bank branches licensed for foreign exchange activities in Vietnam shall be responsible for the implementation of this Circular.

Article 3. Implementation provisions

This Circular takes effect on February 01, 2025./.