Prospective importers must learn the way importing from China works. The essential points include the detailed process, costs, good, import rights, regulatory fees, unpredictable delivery costs, shipment schedules, and sources of merchandise. It’s not an easy enterprise although China is popular for various products like electronics, fashion, furniture, and home items.
You should also become familiar with the existing import duty and tax system in this country. Don’t rely on the Chinese supplier for confirmation of duties in the destination market. Importers are wholly responsible for paying for any tax owed on a particular import commodity. Understand the harmonized tariff schedule for any merchandise before obtaining the tariff amount. Your next step is to find out different options in importing from China.
Manufacturers and Wholesalers for importing from China
You can purchase goods wholesale directly from Chinese manufacturers at low prices. These are the same items you can buy in retail outlets, only the prices are much lower. It would be advisable to visit different factories in China personally and create a list of at least 10 sources you can contact right away. See to it you’re dealing with legitimate companies that produce cutting-edge commodities.
Importing from China through wholesalers rather than a drop shipping firm takes away some of the costs that results to competitive pricing. Importers can easily find dependable sources at the website of Federal International Trade Association. There’s no need to learn the Chinese language because these volume sellers employ English-speaking representatives. Or, use www.aliexpress.com , a subsidiary of Alibaba. This web-based retail service established in 2010 is composed of small-scale Chinese entrepreneurs who offer products to online global buyers.
Wholesale merchants normally offer lower Minimum Order Quantity (MOQ) compared to manufacturers. It refers to the least amount business proprietors importing from China can order from suppliers. You can always check wholesale items on the traders’ websites. Some of these sellers even allow buyers to get only a few pieces for one item.
Trade Fairs for importing from China
Another effective method of looking for Chinese exporters is by participating in expositions such as the Canton Import & Export Fair. The event takes place in Guangzhou two times annually. The first is towards the end of May. The second is during the first week of November. The Canton exhibition is believed to be the largest in the world. Its three phases consist of the following:
- Consumer items, gifts, and home decorations
- Textile, clothes, footwear, and office supplies.
An additional benefit of taking part in the Canton Fair is suppliers as well as factory-owners from all over Asia participate in the trade event. There’s no participation fee and supplies can communicate in English at the fundamental level. You can get the service of an interpreter for a very cheap daily rate.
A smaller fair in terms of magnitude is the Global Sources Show which represents a search engine for Chinese merchants such as Alibaba. It boasts a broad database of manufacturers and more suppliers for foreign entrepreneurs who have plans in importing from China.
For now, study your choices and formulate a plan for your import enterprise. Once you are then ready to make the next step of selling your imported products then don’t for get to read our guide guide to selling on Amazon with fulfillment by Amazon (FBA) Good luck and happy importing.