The Governor of the State Bank of Vietnam has just signed and issued Circular 17/2025/TT-NHNN (referred to as Circular 17), amending and supplementing a number of provisions in Circular 19/2018/TT-NHNN on foreign exchange management for Vietnam-China border trade.

The most notable change of Circular 17 is the abolition of Article 5 of Circular 19, which regulates cash payments in Vietnamese Dong (VND) cash or Chinese Yuan (CNY).

According to Circular 17, the allowed payment methods include: Payment via bank in freely convertible foreign currency, in CNY via border bank branches, in VND via border bank branches.

Or clearing payment (payment of the difference in the transaction of clearing exported goods and services with imported goods and services in Vietnam - China border trade activities) through a licensed bank.

In addition, Circular No. 17 also abolishes a number of provisions related to cash payment and collection.

During the process of collecting opinions for the draft, the State Bank said that eliminating cash payments aims to synchronize the legal system, be consistent with current border trade practices, and at the same time limit risks of smuggling, trade fraud and ensure national monetary security.

Circular No. 17 takes effect from September 15.

Source: https://vietnamnet.vn/thay-doi-quan-trong-trong-thanh-toan-thuong-mai-bien-gioi-viet-trung-2429318.html