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Jeremy Haft – World Affairs Council of Austin
They really just don't design books the way they used to Just the opposite, says international businessman Jeremy Haft. China is a boon for business: the opportunity of a lifetime to create jobs, build value, and make money. All the Tea in China demonstrates Americas overwhelming competitive advantage over China in the global economy.
Most importantly — all items require a tariff code before sending them to China. This is the place to go.
Most customs paperwork will include fields to enter this information. ParcelHero automatically generates this paperwork based on the information entered at time of booking, making this process easy. The duty and taxes you will need to pay are then determined from the value of items as well as the the reason for export. Sending an item that is banned from entry into China will only incur a delay to your delivery, as well as additional charges. It could even be destroyed. Wood, cane, bamboo and rattan.
If it is a processed wooden item in the package then it does not require this certificate, but the recipient must provide a statement of how the wood was processed. Food Items. Get ready for Brexit. A guide for British businesses interested in selling goods and services in China. Find out how UK companies can control risks when doing business in China. Find more export advice and explore opportunities overseas on great. Source: World Bank: Ease of doing business China is the great economic success story of the past 30 years.
Read our guide for UK businesses selling goods and services into China. The UK does not recognise Taiwan as a sovereign entity separate from China.
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You should ensure you take the necessary steps to comply with the requirements of the UK Bribery Act. China is not one single market. There are different regional economies and economic hubs. You will need to understand the regional economic and cultural differences that could impact the success of your product and develop the right strategy.
Read about the different economic regions in the CBBC guide to choosing the right location. You should do as much market research and planning as possible before starting to sell your products and services in China, using both desk research and visits to the market.
As the market is so complex you should also consider getting specialist market research help. You are likely to need a long-term strategy in China to achieve success. Some companies take a staged approach such as selling a small amount to test the market first. Consult local English speaking lawyers to avoid costly mistakes and ensure your product or service is being sold in the most appropriate way.
It is possible to directly export to China. However, due to the size of the market and language issues, you may need to consider other options.
You may want to consider using export agents or distributors. You may also need a number for different regions and it can take time to find the right partners and establish relationships.
Find out more about using agents or distributors in China. Incorporating a company in China is a complex process requiring various approvals. You should seek professional advice early on due to the difficulties in altering business structure once a legal entity is incorporated. Foreign companies cannot legally employ Chinese staff unless the company is registered in China. Check out online marketplaces in China. You can access special terms negotiated by the UK government there too.
You can start exporting in a few steps online. The DIT can help you find the online marketplace best suited to your product or service in China and access preferential deals negotiated by government. Franchising of brands continues to grow in China. There are challenges including the complexity of local regulations and finding the right franchise licensees.
Visit the international section of the British Franchise Association for more information on franchising. You can enter the Chinese market through a UK company that consolidates mixed containers to send to China.
All the Tea in China: How to Buy, Sell, and Make Money on the Mainland
This will usually mean that the consolidator will do the paperwork and you will pay a fee to them. It provides a simple, cost-effective, low-risk and legal means of having a presence in China, before you set up your own office, enabling you to test the market. Schemes are available to UK companies selling products and services to China to make it easier to fulfil an export contract and grow your business. Contact your bank or specialist financial organisations for assistance. Your contract must be in a template suited to the Chinese market.
It will need to specify the payment terms clearly. You must ensure the contract includes an arbitration clause. China has a controlled currency reducing the impact of currency fluctuations.