Attention ! China importers

Other economies are facing great obstacles whereas China's GDP is still growing strong. China grows because of its inexpensive manufacturing base and is considered by economists as the manufacturing centre of the earth. This economic reality offers you a chance to make money: However, follow some easy pointers.:

Many Chinese will try to sell you brandname products at a cutthroat price. However, these brandname products are fakes. That a product has a fake label does not mean that its quality is not good. However, the trademark owner can prevent your goods from physically entering your market. Border patrol and custom officers will seize the shipment and you will have a hard time explaining that you have a license to sell goldplated Rolex watches at 50 dollars apiece. Since branding costs a lot of marketing cash, owner's of well-known brands whether Versace or Gucci will protect their trademarks and you will lose. Not only will your shipment be stuck in customs, you might as well be fined and sued.

Which products should you import ? Any product you purchase in China and which is manufactured in China will be cheaper there than here. The question is rather how to control quality. Have samples sent to your business, and insist on independent quality control. You are better off, paying some money to reduce risk and profits, than gambling it all away with a low quality product. One of the most important problems to solve is the issue of quality. The best price does not help if the quality is not up to par. Your first step of course is to have samples sent and not rely on pictures and written descriptions. These little steps will minimize risk and are part of your due diligence. Once you pay your seller, you will most likely get no help in fixing defective goods.

To find a good company try to look at their track record: Have they been in business for many years ? How has their quality been in the past ? What type of machines are they using ?Translations for Chinese business correspondence and websites can be expensive. A cheaper way is to pay virtual currencies like Linden dollars for translations. Here is a site where the owner reports that he was able to reduce translation costs of 200 articles from $ 9,000 to forty six dollars by asking players in second life to translate for him. Afterwards he paid them in Linden dollars (the currency accepted in this virtual world). One problem might be quality control of the translation, however, if you understand what your virtual translators are sending you, you might be ahead of the game.

Avoid paying before you have inspected the goods. Either pay via letter of credit (click here for more information on letters of credit) or once you received and inspected the goods. A letter of credit is simple: your Chinese exporter will be paid by her bank once she presents commercial invoice, packing slip, insurance documents and a bill of lading or other documents you specify. Even though the concept is so easy, the details of the documentation make the transaction difficult. You should ask your bank (or people at the forum) before you take any action.

Helpful hints about doing business in China and living and teaching in China.