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Thursday, September 6, 2007
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Thursday, September 6, 2007
How to Purchase in Yiwu Market
Purchasing in China Yiwu market is different from in Canton Fair.
In the Yiwu market:
Small quantity of things are accepted, you can mix lots of items (from different suppliers) in one container.
Almost suppliers in the market can’t speak English
The suppliers have not the license of IMP and EXP. and did not know the operation of international trade in China.
The price is FOB Yiwu price, the suppliers only with responsibility for delivering the goods to Yiwu warehouse.
Therefore, when you will purchase from the Yiwu market, it is most important to find a good agent at first. It must be reliable, experienced and economic, with complete, excellent and efficient service.
The first time, you must go to the market, learn the different type, different item and the price of the product you are interested on. The agent will send an employee to accompany you on your visit to the Yiwu market.
Good agent knows which supplier is better; know the advantage of different supplier. and some agent have relevant factory which they have invested, quality is good and the style is popular in some countries.
Because most items from many suppliers in one container, so the agent have much work to do.
Order in the market or factory together
Booking the space of cargo
Asked the supplier delivery to agent’s warehouse and check the quantity and the quality
Declaration to the Customs, loading.
Making the document
Express the B/L to the clients
After finished the order (for a 40 ''HQ container order, you will need maybe 2-3 days), clients go back to their country and leave all the things with the agent, so he will finish the job.
Clients come to the Yiwu market almost 3 per month, looking for the new style. The next order can be made by internet and fax. So you don't need to be personally in Yiwu to close the deal.
This article was researched and produced by Posicionarte for China Trading Company , 2007
Author Bio:
Eric Castro Mattas, is chief editor of Posicionarte researching and producing articles for China Trading Company. If you need products from China please visit www.chinatrading-company.com
Foreign Trade Surges in North China Port City
Tianjin, a port city and an economic center in north of China, registered a foreign - China trade volume of 40.337 billion U.S. dollars in the first eight months the year 2006, shooting up by 21.7 percent year on year, the latest customs statistics showed in China. This is of no surprise because China has been always in a growing stage beating their own records every year.
According to the Tianjin Customs, the export in the city reached 20.45 billion U.S. dollars in the January - August period, up 19.2 percent year on year, while the China import reached 19.887 billion U.S. dollars, rising 24.3 percent.
The city's China trade volume hit 5.5 billion U.S. dollars in August alone, 17.7 percent more than that for the same month of last year (2005).
Tianjin, China exported 14.155 billion dollars of electronics products and machinery, such as wireless telephones, integrated circuits, auto spare parts and air conditioners, in the eight months, edging up by 20.9 percent year on year and accounting for 69.2 percent of the China city total export for the same period.
This China city exported 8.934 billion dollars of high-tech products in the period, up 14.3 percent year on year and accounting for 43.7 percent of local total exports. Tianjin is becoming one of the most important trade cities of China but still is far away from Yiwu one of the better known trade cities of China.
This have help to increase the China international trade year to year and it is creating a big interest in foreign business people that will like to do some trading with China businesses for the next years to come.
This article was researched and produced by Posicionarte for China Trading Company , 2007
Author Bio:
Eric Castro Mattas, is chief editor of Posicionarte researching and producing articles for China Trading Company. If you need products from China please visit www.chinatrading-company.com
Important Issues in Entering China Market
Generally speaking, merchants from China deal with foreign trade according to international rules and regulations. Then different peoples have different customs and habits. This is the same case in their commercial activities. We suggest that you should pay more attention to the following issues when you start your business in China or trade in China.
1. Emphasis on research of macroeconomic environment, foreign trade development, and dynamics of market movement.
As you all know the importance of knowing the market of your product before you get into it, it is especially important in case of the Chinese market. Although everyone knows that China is a huge market in terms of population and territory, yet there is a great geographic difference in terms of per capita income and per capita consumption. Generally speaking the per capita income of east coastal areas is greater than inner parts and even far greater than the west rural areas. Therefore the thorough market research is crucial in the decision making process of your China market penetrating strategy.
2. Stipulate marketing and sales strategy with Chinese characteristics.
Take McDonald's for example, after lengthy marketing research, it realizes that most of parents from China always put their children's interests at first and sometimes they even spoil them. So its strategy is tailored to the Chinese teen-ages. Their promoting means including TV Ads, leaflets and Birthday Party arrangements are all targeted to the children from China, as they know when kids decide to have burger, their parents will take them to McDonalds's. This shows that it is essential to know the market and people's behavior in this market.
3. Conduct comprehensive research on the credit standing of local partners.
As not all Chinese companies have sound financial standing, especially some firms may show blue in their accounting book, but the actual situation will not be as healthy as the book shows, so it is very important to visit your local partner before you commit yourself to the cooperation.
4. Understand fully the regulations and restrictions of import and export commodities.
The Chinese government organizations such as Ministry of Foreign China Trade and Economic Co-operation (MOFTEC) may provide this information. Please make sure you read through and fully understand them. MOFTEC has got a web site, which is www.moftec.gov.cn
5. Understand trade practices prevailing in China, such as payment terms and settlement of currency.
(1) Payment terms
Most China trading firms or mills can only accept payment in US Dollars and they would always ask for L/C at sight terms when you try to buy goods from Chinese supplier. Some firms now can try to accept L/C at 60 or 90 days, which gives the client, here certain length of finance credits.
(2) Shipment arrangement
Most client here would like to use sea shipment as it is more cost effective, only those items which need quick response to the marketing changes, such as fashion items, clients require shipment by air but usually shipment by air from China is very expensive. If it is sea shipment, the usual length from any Chinese port to any European Main Port is 4-6 weeks. So when you buy goods from China, you should also take time into consideration and make sure you can get your goods on time.
(3) Price terms
For visible China trading business, there are certain price terms (ex-works, FOB, CNF, CIF etc.) that are used for doing business with another country. For doing business with China, most Chinese firms tend to offer you price on CNF or CIF terms which means that the price they offer should include freight and/or insurance charges. Occasionally, if the buyer can make shipping arrangement, he could ask China to quote on FOB Terms.
(4) Quality issues
Quality control is a very tough task when you think of doing business with China. In order to achieve consistency in quality, most firms would like to pay frequent visits to the mill or employ quality control people locally if the quality requirement of the goods they need is of quite high standard.
6. Understand the importance of relationships in formulating effective business with China.
Building up close and cooperative relationship with your Chinese partner in both business and non-business environment is crucial to the success of your China business. You might have already heard a lot about this from media and newspaper. Here let me say, in certain sense it is true. People from China usually look for long-term, trustful relationship rather than short-term profit gearing.
This article was researched and produced by Posicionarte for China Trading Company , 2007
Author Bio:
Eric Castro Mattas, is chief editor of Posicionarte researching and producing articles for China Trading Company. If you need products from China please visit www.chinatrading-company.com
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