Compared to other industrial centers globally, China is steadily evolving into a production superpower, currently generating a sizeable portion of the global consumer products. As a businessperson, this knowledge presents a fantastic opportunity for buying and reselling products at a profit. However, importing products such as electronics from China is a complicated procedure for a beginner. It involves confusing, costly, and complex legal and social activities. In some cases, expected profits are usually diminished through extended transit delays, changing delivery costs, mandatory regulatory fees, and unplanned delays. With this knowledge in mind, a qualified China sourcing agent can help you source even for small orders. In this write-up, we shall focus on what to know before sourcing electronic goods from China.
Some important things to know while importing Chinese electronics via a China sourcing agent include:
1. Ensure you know your import rights
The moment you choose to buy goods and services from a foreign country, you take on an importer’s role. However, as a business or person, you should check whether you have the appropriate import rights based on your country of origin. Each country has specific and unique import requirements before you can import electronics from China. For example, Europeans need to register as economic operators before importing goods into their countries. For Americans, Social Security Numbers or IRS Numbers are enough to import goods. In many cases, China sourcing companies can help to identify import requirements too.
2. Identify the specific electronics you require
Companies involved in mainstream trade make money by selling goods and services. As an entrepreneur, selecting the wrong product line means losing money and valuable time. Successful importers choose the correct electronics to import via a China sourcing expert. Thus, always go with a product you like, and one that is unique (can be sold at a high price).
3. Make sure the electronics you plan to import are permitted in your country
There are specific electronics categories that are not allowed to be imported, including eavesdropping hardware and hacking gadgets. As a rule, one should always import safe electronics and meet health code requirements. Failure to meet your country’s requirements and restrictions could cost you penalties and fines.
4. Know how to classify your electronic goods and calculate the overall landed cost
As an importer of Chinese electronic goods, you should know that each product contains a 10-digit tariff classification number. When combined with the certificate of origin, the tariff classification numbers determine how much duty you will pay when importing the electronics. After consulting with your China sourcing agent, keep in mind the total landed cost before placing electronics orders.
Thus, to correctly calculate these figures, you need to acquire the product price from the supplier. Next, find out the existing shipping charges from a suitable China sourcing agent. Lastly, find out the cost of customs clearance, land transport from landing to your warehouse, tax, and duty.
To successfully import electronics and other consumer goods from China, one must know certain requirements depending on their country of origin and be ready to adhere to them. In addition to this, a qualified China sourcing agent can advise one on the statutory fees and licenses required.