China Import
Emerging Market
As with many countries, regulations governing import of goods and their subsequent sale in the Chinese market are complex. China is emerging as a manufacturing platform and many imports to China are intermediate and capital goods. These imports are vital for China’s economic growth and enable China to export to other markets like U.S.
China import procedure mostly involves FOB (Free On Board) terms than CIF (Cost, Insurance, and Freight) terms. The method of payment in majority of cases is a Letter of Credit (LoC). According to the foreign trade system of China, only foreign trade enterprises with import-export rights can engage in import-export agency business.
Chinabusinessworld, a Chinese Business directory, provides comprehensive lists of importers, exporters, wholesale dealers and trade leads.
Products and Importers
Tariffs are charged on most imports, primarily ad valorem. Assessment of import tariff is based on the transaction value of the products. This includes packing and freight charges, insurance premiums, and other charges incurred prior to unloading products/goods at the final destination. There are many directories listing numerous Chinese importers. MasterSeek has a separate category called ‘China Importers’ that lists Chinese importers and wholesale dealers importing a variety of products in the B2B category. Alibaba.com provides good information on Chinese wholesale products and manufacturers in the B2C sengment.
China Imports from Canada
China is a priority market and trade partner for Canada. There has been a steady increase in imports from Canada. Canada China Business Council (CCBC) promotes trade and investment between Canada and China. Chinabusiness.org, a Chinese association provides information about imports and exports from Canada and generates trade leads.
China is emerging as the world’s factory. Phenomenal economic growth coupled with favourable market regulations has created enormous hunger for variety of products and services. China is promoting trade across borders by creating Free Trade Zones and simplifying the administrative procedures for exports and imports. Countries like Canada and its business houses are targeting this growth to increase their presence in China. Satisfying this ever-increasing global demand would eventually increase China imports in the forth-coming years.
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