About China business:
Chinese are known for their businesses. Over the past 2,000 years, China has always been in the 1st place among the whole world when it comes to the economy. And China is placed 2nd when it comes to the GDP of the economy. The country over the years has faced lots of success and loss over the years.
Since China is on the Top it has both profit and loss situation. China’s business plays a predominant role in the world. Most of the materials used every day around the world are “Made in China”.
Products to importing from China
There are several products which are imported from China, where some of them are as follows;
Smartphones: China is ranked the 3rd largest Smartphone technology product which is after America’s Apple (iPhone) and South Korea’s Samsung. China has distributed various smartphone brands to the world such as Huawei, One plus, Oppo, Redmi, Xiaomi, etc.
Electronics: This industry is a fast-growing industry in China. This industry is important for the country’s economic growth. Electronics in China has over 16.6% of the country’s GDP. China is globally the largest Electronic Market Share; this has been recorded in 2016. It is also recoded that China has the highest level of output in consumer electronics.
Clothes: China has a unique way tradition and one of their uniqueness is their clothing. Their dressing is acknowledged because of the evolution taken place over the years. They have changed their pattern for over 3,000 years.
Marketing Clothes from China can bring good business since people around the world are influenced by their tradition and clothing. China predominant dress colour is red, gold and black. Their design of clothing is a straight-line loose pattern and as for ladies the buttons are situated in the side which is famous and unique. The material used in their clothing is linen, cotton and silk.
Shoes: China has been the world’s largest shoe manufacturer and supply product in the world. The industry has a strong challenging competition with other countries and over the last 5 years China has been winning in the top. The revenue every year is up to 0.2%.
Due to its quality shoes – China shoes; having a business with their shoe products will gain good profits. Since most of the countries encourage China Shoes it is flexible to so do China Shoe Business anywhere.
Furniture: Furniture are normally considered to be expensive. Purchasing form China will be profitable since the whole price can be receivable. China is a good purchase for its lesser cost. From 2004, Import of China Furniture was increasing. Though the cost of the furniture is less the quality of the furniture is high. The furniture is been designed by country’s best designers.
The furniture purchase of China is increasing due to its unique making of product. It is unique because they avoid the usage of nails, screws and glue. And it is made with the top wood quality. Due to which the furniture stays for a long time.
Hardware products: China is known to have high quality of Hardware products. You can find different useful hardware products compared to other countries. In China you can import different kinds if hardware products which can be useful for daily uses. The products are also not high in price and it is considered to be a reasonable price.
China holds over 40% of the global shares. They have exhibited various international and multinational products in the world. Globally China is famous for selling products which are less of cost.
Steps to importing from China:
Identifying the Import Rights of Business: The regulations depend on the type of business. Generally having a smaller product will be easier to import and the procedures can be easily completed. But for bigger products, the procedures take a long time and the inspection will be crucial.
Know the goods imported: Acknowledging your business is important, trading gives profit by selling a product. When doing business about a product you don’t know, it is a risky business. And choosing the wrong business will allow you to lose money and time. It is recommended to import products and do business with which business you are interested in. Import products which are unique and large in size.
Permission from home country: The products which you wish to import in your country needs to be allowed in your country. While choosing China products to import it is important to keep in mind that whether this is allowed in your country.
Calculate land cost with imported goods: Classification in a product is an important part in the trade system. The classification comes with the code in which the code is in numbers. The land cost has to be taken place before placing any order. The ‘Incoterms’ needs to be considered to value the Total Land Cost.
Finding a supplier and placing order: After placing an order with the vendor or shipper or exporter it is important to agree upon the shipping agreements. After selecting your supplier, it is required for you to request a P/I which is Proforma Invoice. The P/I need to indicate your weight and the dimensions of the package.
Key points of china import business:
- Doing business with China products is a good decision since it brings good business
- Importing from China is not complicated. Import system and procedure depends on the product size, price and supplier or shipmen
- Over the years China has shown the world that their products can place good business.
- There are various types of products in which you can sell from China products
- Import of China products are taken place worldwide. Trading with China has been there for a long time.
FAQ – QUESTIONAIRRE:
What kind of products can be imported from China?
What does Incoterms mean?
The term means some of the listed regulations which needs to be followed by the seller and buyer. This regulation is under the sales contract for the delivery of goods.
Which China product is globally successful?
Their mobile phones are globally successful since they have launched various globally known phones.