3 Best CSIC Resources in March

Founded in 2010, the China Sourcing Information Center (CSIC) is a not-for-profit organization that exists to educate, develop and advance the China sourcing profession. All CSIC content is made available to the public free of charge thanks to donations from individuals and corporations.

Last month China Sourcing Information Center had again some really good viewpoints of buying and selling in China. Here are the 3 Main Issues discussed:

1. Buying and selling in China

– Going China-factory-direct is not for everyone! Don’t buy from China if you fit this description.

– If you are buying from China, have you considered selling to China as well? You may be surprised at the tax and administrative hurdles of selling your made-in-China product to a China-based customer. Take an inside look at the process.

– RMB – China factories pad their pricing to cover their exchange rate risk. Here’s how to pay them in local currency and save up to 8%.

2. Don’t miss The Trade Shows

April is THE trade show season in China. Check out at least what these two exhibition facilities have for offer:

1. AsiaWorld-Expo, Hong Kong.

This is one of the two major convention and exhibition facilities in Hong Kong along with Hong Kong Convention and Exhibition Centre. It has been operating from 2005, and is located on Chek Lap Kok island, next to Hong Kong International Airport. The world-class exhibition venue offers a total of more than 70,000 square metres of exhibition space.

2. China Import and Export Fair Complex, Guangzhou, China.

The 117th China Import and Export Fair – Canton Fair 2015 is the largest trade fair in China. Among China’s largest trade fairs, it has the largest assortment of products, the largest attendance, and the largest number of business deals made at the fair. Like many trade fairs it has several traditions and functions as a comprehensive event of international importance.

3. Bad suppliers outed!

As usual, there is no shortage of buyers falling into scams this month. Learn from these mistakes posted at www.SupplierBlackList.com:

– This tricky supplier offers a 2 year warranty on all defects returned to them. Sounds good, unless you know that customs doesn’t allow you to return defects!

– Very profitable but unethical business model: this supplier gets the deposit, changes their company name and tells buyer to piss off. Repeat, Repeat, Repeat…

– It’s not just Chinese scam artists out there, check out how this UK based scam works.