There are a lot of tutorials online about how to import from China. However, the truth is that most of them don’t work anymore because they’re outdated and not appropriate for modern small businesses or E-commerce importers like you! Thankfully, there’s this more practical guide which covers everything in detail. This “import from china guide” including different stages with step by steps instructions on what needs to be done at each point during your importing process, so it will be easy for you to follow along.
Customs bond
When importing goods from China, it is important to obtain a Customs bond. This bond protects you against unpaid taxes and duties. You can get a bond for a single piece of merchandise or for an entire year. A single entry bond is typically around half the cost of a continuous bond.
You can get a continuous or single entry bond depending on how frequently you import goods. A continuous bond will cover all of your shipments within a year. It is a much faster process if you have many shipments. It is also the cheapest option if you intend to import goods over 250 US dollars or over $2500 for Chinese goods.
A single-entry customs bond covers shipments from China only once. However, it is more difficult to get than a continuous customs bond. To qualify, your bond must cover the value of the goods you import, including taxes, user fees, and import duties. If you import only a few times a year, a single-entry bond may be the best option.
Container size
The size of the container is one of the most important things to consider when importing from China. Containers are often 20 ft. in size, but you may need to consider the shipping cost for smaller containers. This can add up to more than $1200. In addition, you need to know that the port code for your shipment is essential. You can find this out by searching the CBP database.
There are different types of containers, but the most common ones are dry storage and general purpose containers. These containers are available in standard sizes of 20 feet by 40 feet. This size is also known as high cubicle and is used by the vast majority of importers.
Payment method
If you’re looking for a safe and reliable payment method to import from China, then you should consider using a Letter of Credit. This is a formal document from a bank that promises to pay the seller on behalf of the buyer upon certain pre-specified conditions. It’s often considered the safest payment method because it eliminates the need for a deposit upfront. However, it’s also the most expensive, and is usually only appropriate for large companies.
If you have a small order, you may consider using PayPal. However, you should keep in mind that most Chinese suppliers will not accept this method of payment for large orders. This is because PayPal charges between three and five percent of the invoice value and charges based on marked-up currency exchange rates. In addition, you should keep in mind that most Chinese PayPal accounts are held by individuals. This means that the risk of paying the wrong person increases greatly.
Markets
In 1978, China started economic reforms, which transformed it into a manufacturing powerhouse. It climbed from ninth place in the world’s GDP to number two today. Today, China is a huge market for imports. In the coming years, more businesses will be looking to China as a market for their products.
As China’s income rises, more consumers are purchasing higher-end products and services. The construction and furniture industries will benefit from this trend, as Chinese consumers spend more on their homes. Small orders can be shipped through air freight or sea freight. Drop-shipping is another option for smaller orders.
