In the past 25 years, Australia has shifted from protectionism to liberalization. It is now welcoming imports and one of its biggest trading countries is China. Importing from China is regarded as a good business venture for some capitalists as it assures maximum profits. Learning how to import from China is very important to businessmen as there is a high demand for these products nowadays. If you understand China's business philosophy and local rules, importing shouldn't be too hard for you and you can attain the long-term success you've always longed for.
Working with the Right People
It is crucial to find the right supplier to begin your importing business. There are many ways to look for a reliable supplier. Trade shows are always good venues to meet people who are ivolved in the importation business. This will let you meet several people, but the downside is trade shows are often being held for just a couple of days a year. You get to know their products well as they are being displayed in their respective booths in such events. It is also important to know that the particular supplier is an authorized reseller. You can do this by contacting the brand owner.
The Art of Negotiation
One of the things that you should not overlook is to clarify the payment terms. Usually, the suppliers demand for 30% down payment while the remaining 70% will be paid after the goods are shipped. Suppliers usually accept letters of credit during this transaction. Thus, don't forget to discuss shipment matters with your supplier.
Estimating the Landed Cost
Before you even place an order with a certain supplier, it is important to have a good estimate of the landed cost. This refers to the total cost of an imported product once it has arrived at the importer’s door. Be vigilant, hidden costs may spring up during the importation process. Make a test order to help you anticipate the total charges.
Be Aware of Australian Import Regulations
Australia has strict regulations when importing plants, animals and food to preserve its natural beauty and resources. Vehicles are pretty much affected by these strict import policies. Guns, knives and drugs are banned of course! Remember that Australia has a dual tariff system, meaning it has delineating and preferential duty rates. The rates depend on the products' point of origin. The Pacific Island countries, New Zealand and Canada along with other developing countries enjoy preferential rates while the rest contend with delineating general rates which is 5% higher.
Gaining Customs Clearance for Your Import Goods
To gain customs clearance for your import from China to Australia goods, you have to comply all of the relevant documents. These include: packing list, bill of lading, waybills, postal documentation, etc. Make sure that you register your items properly regardless if they are for home consumption, warehousing or removal to a different location.
After you have complied all the necessary requirements, customs will release your goods and then you can sell it to the market.