At Mong Cai international border gate (Source: VNA)
Hanoi (VNA)♕ – A newly-issued circular on foreignexchanꦐge management is expected to promote border trade between Vietnam andChina.
According to Circular No 19/2018/TT-NHNN issued by the StateBank of Vietnam on August 28, which will take effect from October 12 this year,the Chinese yuan will be allowed for payment in the border areas between Vietnamand China.
Besides the yuan, traders and residents in the border areasof Vietnam and China, can also use Vietnamese dong or fully convertiblecurrencies, such as the US dollar, Euro or Yen, for payment of goods andservices.
In addition to individuals, some other organisations will besubject to the new regulation. They include commercial banks and branches offoreign banks licensed to conduct foreign exchange transactions in Vietnam;branches of banks located in border areas and border-gate economic zones ofViet Nam and China; organisations trading in duty-free goods; organisationsproviding services in isolated areas at international border gates;organisations engaged in bonded warehouses in border regions; the Vietnam-ChinaBorder Gate Economic Zone; and other organisations and individuals conductingpayment activities in Vietnam-China border trade.
Payment can be made through banks or in cash in dong or yuan,according to the circular.
Vietnam has seven provinces sharing the border with China,including Lang Son, Quang Ninh, Ha Giang, Lai Chau, Lao Cai, Cao Bang and DienBien. The Chinese yuan and Vietnamese dong are only used for payment in borderareas of these provinces.
Economic and trade cooperation between China and Vietnam has become increasinglyclose in recent years, and there is huge demand and an increasing trend towardyuan settlement in Vietnam.
Vietnam has overtaken Malaysia to become the largest trade♕partner of China in the Association of Southeast Asian Nations (ASEAN). Their two-waytrade was estimated at 66 billion USD in the first half of 2018, with theaverage monthly trade turnover between the two countries having exceeded 10billion USD for the first time in histo🌠ry.-VNA
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A ground-breaking ceremony for a temporary floating bridge over the Ka Long border river was held in Mong Cai city of the northern province of Quang Ninh on January 19.
A conference discussing the management of foreign exchange activities in Vietnam-China border trade took place in the northern mountainous province of Lao Cai on May 26
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During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
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The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
At Mong Cai international border gate (Source: VNA) 
