The Beibu Gulf (Gulf of Tonkin) is one of the main fishing grounds for both China and Vietnam. The Sino-Vietnamese Agreement on Fishery Cooperation in the Beibu Gulf is an important legal instrument to effectively manage and conserve fishery resources in the Gulf. This article reviews the implementation of the Agreement, analyzes the main factors attribute to the smooth implementation, discusses the main problems arising from the implementation and further presents some proposals for improvement.