The Cost You Need to Pay for Importing Products from China

Importing Products from China

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As a big manufacturing country, there is no doubt that China exports a large number of commodities every year. However, since 2020, the development of China’s foreign trade has faced a severe challenge due to the impact of COVID-19. However, with the effective control of the epidemic in China and a series of measures taken by the state to stabilize foreign trade, in 2021, China’s total import and export of services reached 5,298.27 billion yuan, and the total import and export of foreign trade exceeded one trillion yuan in seven cities, namely Shanghai, Shenzhen, Beijing, Suzhou, Dongguan, Ningbo, and Guangzhou. The scale of foreign trade will be further expanded while the international market share will be further enhanced. So what are the costs of importing products from China? This article will summarize for you the following four aspects.

Product development

With the rapid development of the economy, China is gradually from trading power to trade power sequence, and innovation ability of the foreign trade industry is also in constant increase, and with the rapid innovation of science and technology, commodity suppliers are also constantly improving production technology and research and development technology, in the process of foreign trade is not only limited to the “spot” country exports, but It can also meet the needs of “exclusive customization”.
All you need to do is provide a design for a custom item and the special custom accessories included in it, and you can fulfill your custom dream. If you custom apparel goods, then designs will include the fabrics of commodity composition, process design details, color printing, packaging, etc., and in terms of quality and technology, because of different national geographic space and time limit, you can not only through a photo to confirm whether the goods meet your requirements, Therefore, you need to confirm the samples provided by the supplier before placing the order. The cost of this part is the first thing you need to consider when importing from China.

Cost of procurement

After you receive and confirm the samples provided by the supplier, you need to consider the purchase cost of raw material market, import price, quantity, exchange rate change, selling price, and domestic market demand when you place an order to import a large number of goods from China. Supplier sources of raw material market stability depend on the goods, so when the rising raw material costs, you will also increase the price of imports, at the same time due to the change of the international situation is in a dynamic equilibrium, thus caused to consider when importing goods to its exchange rate changes bring the purchasing cost change for you, In combination with your research on the domestic market conditions of imported goods from China, you can predict the sales situation of the goods in the future market and consider whether to change the quantity and type of imported goods in the future, and the cost generated by this part is the most important part of the import.

Importing Products from China

Sea freight and insurance

In foreign trade, export goods transportation is generally in the port to take the method of shipping the container shipment, but due to various countries in the region of space constraints, leading to the goods on transport cycle is long, Marine natural condition and the influence of objective factors such as the weather uncertainty, exist in the process of maritime transport goods average risk, in the event of general average, The value of the goods will be greatly reduced, thus affecting the sale of the goods, there is a certain force majeure, so both parties in foreign trade, in the process of commodity transportation, to clarify the responsibility of insurance, insurance of the goods to prevent the loss of value, and in case of dispute, can be used as the basis for compensation.
In theory, there are different ways to export goods in foreign trade, such as FOB, CIF, EXW, CFR, etc. However, in practice, exporters usually recommend you to choose the following two ways to export goods — FOB and CIF. If you choose FOB to import goods, you will be responsible for the necessary freight and insurance during the import process. If you choose CIF to import goods, your exporter will bear the necessary sea freight and insurance cost to protect your goods from China.

Tariff

Tariff plays a crucial role for a country. It is a major means of obtaining fiscal revenue. It can regulate import and export trade and play a fixed role in foreign trade. If you want to successfully receive goods imported from China, the tariff is to pass the process of pay, but due to the commodity producer and destination is different, each country for tariff tax rules are not the same, but as an importer, you need to do is to keep a close eye on the country’s customs rules and regulations, customs for import tariffs imposed When you pay the corresponding cost of this part, you will receive the imported goods from China more quickly, meet your personal customized needs, so as to enter the market for sales and help you expand the business scale and capital level.

Conclusion

As the most important export supplier of China’s commodity department stores, Union Source has 16 years of export experience and has purchased more than 82,000 products and 10,598 factory resources for customers in 86 countries and regions. Compared with other exporters, our innovative R&D team can meet your OEM/ODM custom demand, the latest product catalog and recommend suitable products, product variety is more complete, more price advantage, earlier delivery, faster response speed, more detailed service, and customer experience, can help you produce the most appropriate products, saving the cost of product development and procurement, Help you import from China!

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