The guide of importing from China: Know the different steps involved

There are several Asian countries that are developing very fast. One such country that deserves special mention is China. It has managed to emerge as a superpower within several decades and is known to be a popular manufacturing hub for the entire world. Most of the manufactured goods used across the globe have its origin in China. This proves its success as a manufacturing giant a hold that has become firm over the years. Hence, as a reseller or buyer, you can derive tremendous opportunities. But newbies are likely to face several challenges as the importing process from China is quite complex, expensive and confusing. Fluctuating or rising delivery expenses, long transit times, unexpected delays and regulatory fees might erase expected gains.

The guide of importing from China – Steps to follow
Identify import rights: You become an important by choosing foreign sources for your purchase. You need to identify your import rights.
oIf you are a European citizen, then register as EORI (economic operator) number.
oif from the U.S., use your company IRS EIN as business or SSN as an individual)
oIf from Canada, obtain Business Number authorized by the CRA (Canada Revenue Agency).
oIf from Japan, you need to declare to Customs Director-General to obtain necessary permit after evaluating goods.
oImport license is not necessary for Australian importers.
Identify goods desired to import: Choose products wisely that will define your business and also sell easily. Products chosen to sell are likely to affect the design used, profit margins and marketing strategies. Legal restrictions and logistics also play a crucial role. Get to know well your niche market for the imported markets. Also know your product cost to make hefty profits. Obtain information on product composition, descriptive literature, product samples, etc. Gaining such crucial information can help determine tariff classification. Use HS Code (tariff clarification number) to determine applicable duty rates on the products.

Make sure that your country permits promoting/selling imported goods: Several countries are known to have specific control on what products to import and sell. Find out for your country before you plan to import. Also find out if the imported goods are subjected to your government’s regulations, restrictions or permits. As an importer, it is your responsibility to ensure that the imported goods comply with different established rules & regulations. Avoid importing those goods that violate your government restrictions or do not adhere to health code requirements

 

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Classify goods as well as calculate landed expenses: For each item to import, determine 10-digit tariff classification number. Origin Certificate and numbers are used for determining duty rate to pay when importing. Next, you are to calculate land cost. Focus on Incoterms to calculate total landed cost. This should be done before placing orders. Otherwise, you are likely to lose earnings if estimating costs are found to be too low or lose customers because of too high estimating costs. Mitigate cost elements. Begin the process if it matches your budget.
Identify reputed supplier in China to place order: Order for your desired goods with the exporter, shipper or vendor. Identify shipping terms to be used. After supplier selection, request Quote Sheet or Proforma Invoice (PI) for prospective purchase. Include in it, value per item, description and harmonized system number. Your PI should clearly reflect packed dimensions, weight and purchase terms. Supplier should agree to FOB shipping terms from nearest airport/port to reduce significantly shipping costs. You can have better control over your shipment. You can place your order with reputed companies like https://www.goodcantrading.com/ and enjoy huge sales/profits in your country.
Arrange cargo transport: Shipping goods are associated with different types of costs like packaging, container fee, broker fees and terminal handling. Consider each factor to known shipping costs. On getting freight quote, provide your agent with your supplier’s details. They will do the needful and ensure your shipment is transported safe and quick. Also, take into consideration inevitable delays occurring during the process. Logistics is crucial and hence, select a well-established good-freight forwarding partner.
Track cargo: International shipping does take time and patience. On an average, goods shipping from China take about fourteen days to arrive at the Western Coast of the United States. To reach East Coast, it takes around 30 days. The consignee is generally notified within 5 days via arrival notice of port arrival. As the shipment reaches its destination, the licensed customs broker or importer of record as owner designated, consignee or purchaser has to file entry documents with port director.
Obtain shipment: Once the goods arrive, you are to make arrangements to ensure that your custom brokers clear them via customs while carrying out applicable quarantine. You can then obtain your shipment. You can wait for shipment arrival at your designated doorstep if you have opted for to-door service. After confirming receipt of goods, ascertaining packaging, quality, labels and instructions, inform your supplier of goods receipt, but not of reviewing them.
Following this guide of importing will allow you to import permitted choice of goods from China to your country and flourish in your business.

 

AUTHOR: lucy
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