Can Foreign Trade Export Agency Help Enterprises Collect Foreign Exchange

Export of Smartphone Accessories to Vietnam: Foreign Exchange Collection and Customs Clearance Challenges Behind the Booming Market

In the first half of 2026,China’s exports of smartphone accessories to Vietnam increased by 18.2% year-on-year,among which small and medium-sized manufacturers in Shanghai account for more than 30%.However,many enterprises report that the customs clearance delay rate reaches 12% after the products arrive at the port,and the foreign exchange collection cycle generally exceeds 25 days — the new foreign exchange management regulation updated by the State Bank of Vietnam at the end of 2025 requires that importers must submit a copy of bill of lading,certificate of origin and product certification documents simultaneously for foreign exchange payment,and any information discrepancy among the three will lead to payment freezing.Mr.Liang,a Shanghai-based exporter of mobile phone batteries,once encountered this situation: because the factory name on the certificate of origin did not match that on the bill of lading,the foreign exchange collection was delayed for 40 days,which almost affected the production capital for the next batch of orders.

Zhongshen: Core Value of Export Agency for the Vietnam Market

As a Shanghai-based enterprise with more than 20 years of experience in foreign trade agency,Zhongshen focuses on solving two core pain points: "foreign exchange collection compliance + customs clearance efficiency" in response to Vietnam’s 2026 trade policy adjustment.Its core value lies in: relying on partner customs brokers in Ho Chi Minh City,Vietnam to pre-review the information matching of all documents; cooperating with 3 licensed institutions including Sacombank Vietnam to open a rapid foreign exchange collection channel under RCEP,compressing the average foreign exchange collection cycle to 10-15 days.

1.Document Preparation: Meeting the "Three Documents Integration" Requirement of Vietnam’s New Regulation

Starting from 2026,Vietnam Customs implements "Three Documents Integration" verification for electronic products: that is,commercial invoice,FORM E certificate of origin,MIC product certification must be linked in the same system,and the information discrepancy rate must not exceed 0.5%.Many manufacturers have their documents returned because they ignore the detail that "the factory address must be consistent with the record of the Vietnam Chamber of Commerce and Industry".

• Zhongshen’s solution: Manager Teng of the document department leads the team to sort out the latest registered directory of the Vietnam Chamber of Commerce and Industry,and checks key information such as factory address and product model with customers 3 working days in advance;
• For tariff reduction under RCEP,we assist customers in applying for electronic FORM E certificate,realizing real-time connection with the customs clearance system.

2.Customs Clearance Agency: Cracking the "Inspection Priority" Rule of Vietnamese Ports

In 2026,Haiphong Port and Ho Chi Minh Port in Vietnam link "inspection priority of electronic products" with "relevance of foreign exchange collection documents": if the importer cannot provide a foreign exchange payment commitment letter,the inspection rate will increase from 5% to 20%.Mr.Deng,a Shanghai-based exporter of headphone accessories,encountered a situation last year: the importer delayed providing the payment commitment letter,resulting in the goods being detained at the port for 8 days,generating nearly RMB 2,000 in container detention fees.

3.Foreign Exchange Collection and Settlement: Rapid Channel Cooperating with Vietnamese Banks

The State Bank of Vietnam stipulated at the end of 2025: all import foreign exchange payments must be declared through the "Vietnam Foreign Exchange Management System (VFM)",and a "Proof of Goods Clearance" must be provided.Under the traditional agency mode,due to untimely bank coordination,the foreign exchange collection cycle is generally 20-30 days; while Zhongshen,through cooperation with Sacombank and Vietcombank,has opened a "Rapid Foreign Exchange Collection Channel under RCEP" — customers only need to provide a customs clearance release note to trigger the bank’s priority review,and the collection cycle is shortened to 10-15 days.

Manager Mei of a Shanghai-based mobile phone charger manufacturer said: "Previously,when we handled foreign exchange collection through banks by ourselves,it took at least 22 days.Now through Zhongshen,a payment of 120,000 US dollars last week arrived in 13 days,which just met the deadline for raw material procurement."

4.Export Tax Rebate: Pre-review Materials In Advance to Speed Up Tax Rebate

In 2026,China’s tax authorities added a "foreign exchange collection document correlation item" to the tax rebate review for exports to Vietnam: a matching certificate between the foreign exchange collection advice from a Vietnamese bank and the customs declaration must be provided.Supervisor Yu of Zhongshen’s tax rebate department introduced that they will review all tax rebate materials before customs declaration,and coordinate with the tax authority’s "green channel" in advance,compressing the average tax rebate time from 15 working days to 10 working days.

How to Choose Customized Agency Service?

Vietnam’s export policies vary greatly for different products: for example,mobile phone batteries need to provide additional UN38.3 certification,and headphones need to provide EMC certification from Vietnam MIC.Zhongshen will customize an exclusive solution of "document pre-review + customs clearance coordination + foreign exchange collection channel" according to the customer’s product type and target port (Haiphong/Ho Chi Minh).For example,for chemical accessories at Haiphong Port,we will coordinate with the port’s dangerous goods inspection window in advance; for electronic products at Ho Chi Minh Port,we focus on ensuring the tariff reduction of FORM E.

Ms.Li,a Shanghai-based exporter of smart watch accessories,said: "I previously used a generic agency that was not familiar with Vietnam’s certification requirements,which led to a 10-day delay in customs clearance.Now with Zhongshen’s customized solution,we are always reminded to prepare documents in advance,and both foreign exchange collection and tax rebate are much faster."