The age-old barter system has morphed itself to the modern day import and export between countries. Import and export is an important wing of most multinational ventures adding a considerable amount to the company’s economy as well as the countries reserves. China also has a significantly import and export wing that is involved in doing business with countries around the world, selling what China produces more and buying what it has less. For example, China majorly exports electronics goods all across the world while it imports oil and natural gas from around the world. At a whopping $17.41 trillion, the United States of America is China’s largest trading partner.
But import and export have strict laws, rules and restrictions that need to be abided by. The basic rules for importing from China are as follows:
- The import rights and duties of goods vary from country to country. So if you want to import bulk goods for commercial or business purposes you will fall under the rules and regulations levied by the customs department. Before importing, therefore, one must be aware of the import duties and rules to save time in transit or prevent goods from being held up in customs. There are no such restrictions for goods imported in small quantities or for personal use.
- Each country has its own list of goods that can and cannot be imported. So the next thing to consider while importing from China is that whether the goods you plan to import are allowed to be imported.
- Next is locating a supplier and asking for a quote and estimated time for the entire importing including the import duties.
- After you have located your supplier, the next big step is to decide on the mode of import. The most logical freight methods are the post, courier, air or sea. Each mode has its own set of advantages and disadvantages. While for small packages and goods the most inexpensive method seems to be a regular post, it is extremely slow and time taking. For bulk imports and larger goods, however, air freight is the best method of transportation. These days ,however, with multiple courier companies it is best to stick to reputed services as though a little bit expensive but these services ensure on-time and hassle-free deliveries.
The entire chapter of importing from China or for that matter any other country is much complicated than it sounds and involves a lot of paperwork and customs hassles. Most startup companies in order to avoid this hassle rely completely on their supplier to get the job done. Some big shot companies have their own set of professionals looking into the transport and thus they handle the entire transportation on their own. A third option and the most feasible one is to assign a freight forwarder to the job. These are companies who specialise in providing transportation services for the import and export of goods via various routes from source to destination countries. These companies not only ensure speedy and safe transportation of your goods but also handle customs clearance and any other trouble related to import duties with ease at the cheapest rates.
Thus next time you plan on importing from China keep the above points in mind and make sure to hire the best freight forwarder and the correct freight mode for the job to make your import smooth and hassle-free.