Over Coming Problems When Importing From China
Nowadays, you can find products manufactured in China all over the world. Importing products from China is a source of excitement and anxiety to many consumers. There is the potential for large profits from a profitable export business that involves selling goods that are imported from China. However, there is the problem of doing business with the Chinese that has an entirely different business style.
There are many misconceptions and difficulties that come with China’s imports and business. Let us look at how accurate they are:
1. The payment options aren’t as extensive.
It was the case that Chinese businessmen would only accept Western Union transfers as well as wire transfer payments or bank transfers that weren’t secure. But, due to the recent development of Chinese companies in the export and import industry, numerous internationally acceptable methods of payment are readily available. If the seller requests credit card payments, the best option is to route it via third-party processors such as PayPal. Private credit information should not be shared with sellers, and buyers can demand payment to be held in the event of problems in the delivery or transaction. If the contract is for a bank transfer, it is best to transfer money to a company bank account and not to a personal account.
There are other payment options like a letter of credit (L/C) drawn at the sight of that is the most sought-after option, as well as time L/C and bill of exchange. Each payment method has its advantages and risks. The most important thing is that you always keep a document of each transaction in the event that you have to file a dispute.
2. Chinese businessmen will rip you off after you have paid.
Begin by studying more about the exports to import so that you understand the intricacies of the trade. If you are required, take an export-related business training program or find a reliable expert in the field to guide you. Stop businessmen from deceiving you from the beginning by looking for a trustworthy supplier or manufacturer. Make use of payment methods that are secure and will safeguard you from fraud. If you can, a trusted import-export agency can aid you during discussions.
3. Communication can be challenging.
Chinese companies and their suppliers have equipped themselves with English salespeople who are able to communicate effectively. They’re more visible on the web, and use tools for communication like chat and messaging through Skype, Yahoo Messenger, GTalk, and many other tools through which preliminary talks can be conducted and requests for photographs or information as well as quotations can be made. If communication is difficult for businesses that don’t have English translators or staff and an import-export representative could be beneficial. He will make sure that complicated questions are understood and that commitments or requests are apparent in both directions.
4. Chinese products aren’t good quality and are not safe.
There have been a number of reports of recalls on products manufactured in China, and it brings to the forefront of many people’s minds that you cannot guarantee high-quality when purchasing goods from China. A few prominent companies from China’s import-export industry claim that the companies are not entirely to blame since they adhere to the specifications provided to them by their clients. To make sure that China imports are secure, importers need to research the safety requirements of the final market and relay these specifications directly to the manufacture. It is also recommended to obtain a sample order to ensure that the product’s safety and quality can be experienced first-hand.
If you are unsure, then the next solution is to hire an experienced import-export agent who will take care of the task for you and help with your business dealings. Keeping all of these in mind can assist you in riding the wave of importing low-cost goods from China and establishing an effective import business.
