Circular No. 55/2024/TT-NHNN amends Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN dated August 28, 2018, issued by the Governor of the State Bank of Vietnam guiding foreign exchange management for cross-border trade activities between Vietnam and China.

CIRCULAR

Amending Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN dated August 28, 2018 of the Governor of the State Bank of Vietnam

guiding foreign exchange management for cross-border trade activities between Vietnam and China

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

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

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Pursuant to the Foreign Exchange Ordinance dated December 13, 2005; the Ordinance amending and supplementing certain articles of the Foreign Exchange Ordinance dated March 18, 2013;

Pursuant to Decree No. 14/2028/NĐ-CP dated January 23, 2018 of the Government detailing cross-border trade activities; Decree No. 122/2024/NĐ-CP dated October 4, 2024 of the Government amending and supplementing certain articles of Decree No.

14/2028/NĐ-CP

dated January 23, 2018 of the Government detailing cross-border trade activities;Pursuant to Decree No. 102/2022/NĐ-CP dated December 12, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam; Decree No. 146/2024/NĐ-CP dated November 6, 2024 of the Government amending and supplementing, abolishing certain articles of Decree No. 102/2022/NĐ-CP dated December 12, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam and Decree No. 26/2014/NĐ-CP dated April 7, 2014 of the Government on the organization and operation of banking inspection and supervision which has been amended and supplemented by Decree No. 43/2019/NĐ-CP dated May 17, 2019 of the Government;Implementing the Border Trade Agreement signed on September 12, 2016 between the Government of the Socialist Republic of Vietnam and the Government of the People's Republic of China and the Settlement and Cooperation Agreement signed on May 26, 1993, amended on October 16, 2003 between the State Bank of Vietnam and the People's Bank of China;

Amending Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN dated August 28, 2018 of the Governor of the State Bank of Vietnam

Article 1. Amend Clause 4, Article 2 of Circular No. 19/2018/TT-NHNN dated August 28, 2018 of the Governor of the State Bank of Vietnam guiding foreign exchange management for cross-border trade activities between Vietnam and China as follows:

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

The Governor of the State Bank of Vietnam promulgates this Circular "4. Branches of banks permitted to be established in border provinces of Vietnam - China (hereinafter referred to as border bank branches)." guiding foreign exchange management for cross-border trade activities between Vietnam and China.

Heads of relevant units under the State Bank of Vietnam, commercial banks, and foreign bank branches permitted to operate foreign exchange in Vietnam shall be responsible for implementing this Circular.

This Circular takes effect from February 1, 2025./.

Article 2. Responsibility for Implementation

The heads of relevant units under the State Bank of Vietnam, commercial banks, and foreign bank branches permitted to operate foreign exchange in Vietnam are responsible for implementing this Circular.

Article 3. Implementation Provisions

This Circular takes effect from February 1, 2025./.