Decision No. 689/2004/QD-NHNN dated June 07, 2004 of the State Bank promulgating the regulation on payment for goods and service trading and exchange in border areas and border-gate economic zones between Vietnam and China
THE STATE BANK
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, June 7, 2004
PROMULGATING THE REGULATION ON PAYMENT FOR GOODS AND SERVICE TRADING AND EXCHANGE IN BORDER AREAS AND BORDER-GATE ECONOMIC ZONES BETWEEN VIETNAM AND CHINA
THE STATE BANK GOVERNOR
Pursuant to Vietnam State Bank Law No. 01/1997/QH10 of December 12, 1997 and Law No. 10/2003/QH11 of June 17, 2003 Amending and Supplementing a Number of Articles of the Vietnam State Bank Law;
Pursuant to the Agreement on goods trading in border areas, signed on October 19, 1998 between the Government of the Socialist Republic of Vietnam and the Government of the People's Republic of China;
Pursuant to the payment and cooperation agreement signed on October 16, 2003 between the State Bank of Vietnam and the People's Bank of China;
Pursuant to the Prime Minister's Decision No. 252/2003/QD-TTg of November 24, 2003 on management of goods trading across borders with the bordering countries;
On the basis of the direction of the Prime Minister in the Government Office's Official Dispatch No. 290/VPCP-KTTH of January 16, 2003 on the collection of money of the bordering countries;
At the proposal of the director of the Foreign Exchange Management Department;
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Article 1.- To promulgate together with this Decision the Regulation on payment for goods and service trading and exchange in border areas and border-gate economic zones between Vietnam and China.
Article 2.- This Decision takes effect 15 days after its publication in the Official Gazette. The State Bank's Circular No. 06/TT-NH8 of March 18, 1994 guiding the May 26, 1993 Vietnam-China payment and cooperation agreement between the State Bank of Vietnam and the People's Bank of China ceases to be effective.
Article 3.- The director of the Office, the director of the Foreign Exchange Management Department, the heads of the units of the State Bank, the directors of the State Bank's provincial/municipal branches, the general directors (directors) of commercial banks shall have to implement this Decision
FOR THE STATE BANK GOVERNOR
Phung Khac Ke
ON PAYMENT FOR GOODS AND SERVICE TRADING AND EXCHANGE IN BORDER AREAS AND BORDER-GATE ECONOMIC ZONES BETWEEN VIETNAM AND CHINA
(Promulgated together with the State Bank Governor's Decision No. 689/2004/QD-NHNN of June 7, 2004)
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Article 1.- Scope of regulation
1. This Regulation regulates the following activities:
a/ Payment for goods and service trading and exchange across borders between Vietnamese traders and Chinese traders under the agreement on goods trading in border areas between the Government of the Socialist Republic of Vietnam and the Government of the People's Republic of China (hereinafter called payment for cross-Vietnam-China border export and import).
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