China is second only to the US for the size of its economy and it continues to grow rapidly, especially with its import and exports. It manufactures many different products and exports them all over the world including but not limited to mobile phones, electrical machinery, toys and sporting equipment, plastics, bedding and furniture. It has the largest automotive market with its more than 1.3 billion population. It has the potential to overtake the US to become the largest economy in the world. This has led to many businesses choosing to import from China. So here is a look at why they are so attractive and how to take advantage of it.
Competitive with other manufacturers
There is a misconception about products from China that they are cheaply and poorly made. But the majority of the time, this is not the case. Otherwise, China would not have the success it does in sending its products around the world! Buyers should set their own standards on what they find acceptable, and if they are setting those standards too low then consumers should have a problem with that. There are a lot of large names in various industries that have their products made in China and are extremely successful. Companies just need to set strict conditions on the quality of materials, the quality control and the manufacturing standards they have.
Less red tape nowadays
Once the process of choosing to import from China was difficult because there was a lot of red tape to cut through. In recent years a lot of those obstacles that discouraged foreign companies from working with Chinese suppliers have been relaxed. In 2001 China became a part of the World Trade Organization and this lead to a more liberal stance and opened up a lot of opportunities. It is a lot easier and also safer to now buy Chinese products.
Many workers available
A huge advantage China has is its high population when means there are a lot of workers. With lower costs of living, wages to Chinese workers are a lot less than those in Europe or the US and this means companies can save a lot of money using labor in China and manufacturing costs are reduced significantly. There are risks though, including the language differences. That is why it is a good idea to hire some staff in certain departments who also speak the language your business works in predominately.
Take into consideration Chinese business etiquette
You are also more likely to see better success if you understand Chinese business etiquette and respect that. It can make all the difference between how successful you are in your business transactions. Even with a more liberal approach to international business transactions, culture and traditions are still important. You will need the flexibility to import from China successfully. It also helps a great deal to use a private company that is experienced with working on inspecting and sourcing products from China and performing high-quality control.