Lujiazui: The Financial and Trade Zone in Shanghai

night view of China shanghai Lujiazui

night view of China shanghai Lujiazui

Lujiazui is a significant locality in Shanghai. From a historical perspective, the area is connected to the ancestral Lu’s family; hence, adopting the name Lujiazui. Based on its attachment to the ancestral family, the literal meaning of Lujiazui is Lu’s Mouth. Before the 1990s Lujiazui was a lowly-built locality with few commercial enterprises. The area did not have much economic significance. In the early 1990s, the government decided to transform Lujiazui into a financial and economic hub in Shanghai. The government’ commitment to turn Lujiazui into a financial and trade zone in Shanghai has since made it an influential locality in China. The State Council, in 2005, positioned Lujiazui as a chief financial and trade zone among the national-level development areas in China. The reforms that have taken place in the area are a great symbol of Chinese developments.

Lujiazui is a peninsula in Shanghai, China. It is specifically situated in the Pudong New District on the east of Huangpu River. The presence of Huangpu River is important in increasing the strategic significance of Lujiazui. It is also worth pointing out that Lujiazui is on the south of the convergence of Huangpu River with Suzhou Creek. The placement of the area along such landmark features makes it extremely important.

Lujiazui has a huge economic significance not only in Shanghai, but also in China. After the inception of the financial and trade zone in the early 1990s, the locality has grown tremendously to become a powerful economic contributor in China. It is a national-level economic development area set by the government. There are numerous domestic and international corporations in Lujiazui, whose commercial and financial operations boost the economy of both Shanghai and China. Due to the expansion of Lujiazui, tourism has become a major economic activity, with tourists visiting from around the globe. The landmark buildings, state-of-the art facilities and skyscrapers are a reflection of the booming economy of Lujiazui.

Transportation in Lujiazui is convenient for all. Since the locality is always busy with numerous activities taking place, people take their most convenient and preferred modes of transport. People can transit from one place to another by road, water or metro. Ferry services are ever present to transport people from Lujiazui to other parts of Shanghai. The Yan’an East road is extremely significant in linking Lujiazui with central Shanghai. The road system is very efficient to allow easy movement of vehicles. The Lujiazui station is of great importance as it connects the area’s metro transportation services.

Lujiazui is a home to famous buildings that are internationally known. These buildings play crucial roles in the commercial, financial, trade and recreational purposes of Lujiazui. The beautiful and magnificent skyscrapers are a true reflection of the economic and cultural might of Lujiazui. Some of the famous buildings include:

  • Shanghai World Financial Center
  • Shanghai Oriental Pearl Tower
  • Shanghai Jinmao Tower
  • Bank of China Tower

Certainly, the architectural designs of the buildings are world class, unique and a true taste of the economic dominance of Lujiazui. The locality is extremely fundamental in the growth and development of China. Everything in Lujiazui is truly outstanding.

How to check buyer reference when buying from Chinese

How to check buyer reference when buying from Chinese

If you are importing products from China, there are five basic steps you should take to increase Your chance of receiving what you are ordering. Getting an order that is defective or dangerous, almost are never allowed to be returned to China, and the shipper is most likely not going to do an order for free.

Before you decide to buy anything from China, first find a suitable supplier. A lot of importers find nice samples at trade shows. Get a good quote from a company that manufactured product. If the supplier you choose claims to own a company, you can do a background check. Make sure you read reviews from previous customers.

Secondly, make sure you define your item clearly, whether its a sample, etc. Note it on an invoice. The main thing is to write your item very detailed that leaves no room for error.

Third, work with a supplier to set up easy payment terms. Fourth, make sure you control your item quality. Do random inspections to catch problems and last but not least, formalising The previous steps. You should have an OEM agreement. This contract will decrease any chances of problems, and help you in long run if problems shall occur.

How To Import From China To The United States

How To Import From China To The United States
How To Import From China To The United States

In order to import items from China to the United States first, you must find a supplier. To find a supplier you need to think about a few things. You have to make sure the item you want to import is legal for you to import. Then you need to make a list of exporters provide you with your products. Start contacting the people on the list to find the best one. Now you need to investigate the product so you know if it is a good product to import.

The next step is making an order. You have to meet your supplier. You need to then obtain a business visa. Make sure you negotiate a deal with your supplier. Now begin placing your order to be imported. Now you have to pay for your products. Make sure you avoid payment fraud.

Third, you need to transfer the items. Sea freight or air freight, you have to compare them and make a decision. This article maybe help if you have trouble. Then you need to get them through customs. This means you need to hire a customs broker, acquire the necessary permits and license, and file the import security filing. Now you need to get your product through US Customs and Border Protection. You have to submit all the initial import documents that need to be filed. Make sure you file any other additional documents that you have to get filed.

The last step is to make sure you take possessions of your items. In order to do this, you need to pay all your import duties, arrange for pickup and import, and check your shipment for accuracy and damage. As long as you follow all the steps I have listed, then you should have no problem importing your products from China to the United States.

Conquering the Scam

Conquering the Scam

The China banking scam is a sophisticated scam invading the foreign trade business. The scammers are preying on businesses that do business with other companies overseas and transfer money via an Internet banking system. Most of the scams that are taking place happen as fraudulent wire transfers. The scam begins to work after a customer sends their payment to the fraudulent business. The money is then transferred several times and quickly disappears. The fraudulent company then contacts the legitimate company sending the money and stating the money has been transferred into the wrong account and more money will need to be sent to the correct account. Many banks located in China are the most common ending destination for the fraudulent business transactions.

The China Banking Scam has victims in a variety of countries. Government officials have received complaints from every state in the U.S., and approximately 45 additional countries are involved, according to the Federal Bureau of Investigations (FBI). The amount of money lost to the scams is reported in the millions of dollars. The FBI believes the number of companies affected by the scam will continue to rise.

The China Banking Scam is also connected to other forms of fraud such as lottery, vacation rentals, and even employment scams. Many of the victims of these scams come from U.S. communities and do not realise they are being used as money launderers. Many of these unassuming victims receive some money into their private accounts. Then they are told to transfer the money to different accounts that are not within the U.S. Certain times these unassuming individuals open fake corporate accounts in their name, which makes these types of accounts hard to identify.

There is a way to conquer the China Banking Scam. The FBI suggests that business and individual protect future business transactions by establishing a company website and using the email only through that particular website. People should never use free web based accounts. Private individuals, as well as companies, should limit the amount of important/private information that is posted to social media and company websites. These types of people should also be hesitant when pressured to act quickly to a marketing situation. Corporate companies may want to establish a 2 step verification processes, which may help limit this type of fraud.

Companies and individuals need to remember that if they do fall victim to a China Banking Scam, they must keep all relevant information such as documents, faxes, and emails to provide law enforcement investigators with the information to catch the scam artists.

Finding Suppliers for Businesses of Different Sizes

Finding Suppliers for Businesses of Different Sizes
Finding Suppliers for Businesses of Different Sizes

The foundational building blocks of business are that of supply and demand. As demand goes up, the need for supply increases. Therefore, no matter what the business is, there has to be a way for the business to get what it needs in order to serve its customers or clients.

There are several ways of finding suppliers both online and offline that work for any size business. These days, it is much more common to find suppliers online, but how does a person know where to go and find these places?

The thing is, most people, whether they find suppliers offline or online, still make their initial connections based on word of mouth and who they know. Say, for example, a vendor at a convention wants to provide their customers with aluminium bookmarks to go with their new book. At a convention, it is easy to simply walk around and look at all the other vendors, ask questions, and see who can help them. The people they meet may not be able to help them themselves, but may also know people they can lead them to and make connections with. These connections can be made to online vendors and suppliers as well, which helps narrow down the search for someone recommendable.

Other methods that take a bit more work are going online and using a search engine to find the suppliers. Using the correct keywords in the search bar, and doing ample research to assure quality in a supply company should lead businesses to the proper supply companies for their needs. However, this can be a tedious and intimidating process as the internet holds a wide amount of information on supply companies both reliable and unreliable, and it can be very difficult navigating the internet to find what is needed.

The best way to find a good and reliable supplier is to use both methods: recommendations from businesses they know and are connected with, and then either calling up the supply company or going to meet the supplier in person or going online and finding connections that way. This is most reliable because it is through connections a business already has that more connections are found. This makes it much easier a process to find the perfect supplier for one’s company.

Carton Fair: The Biggest Bussiness Party In The world

carton-fair

Canton Fair is a trade fair event that is usually held twice in a year in Guangzhou, Guangdong Province in China. It is known to be the world’s largest trade fair; and has the longest history compared to other trade fair events in China and the world. The event which has been operational since 1957 now has the largest scale, the most extensive distribution of overseas buyers, the grand business turnover in China and has the most comprehensive exhibition of variety.

The Canton Fair was formerly known as Chinese Export Commodities Affair until 2007 when it was renamed to China Import and Export Fair. Last year, it was the well recognized and most competitive trade fairs after recording the best attendance compared to other trade fair events. Known to have existed since April 1957, Canton Fair has become the most significant Chinese hosted International trade event.

Its 58 years history has attracted buyers and investors from all over the world to participate fully in the event which involves finding suppliers, discovering the latest trends and products being made in China. In the year 2012, it has also hosted more than twenty thousand top foreign trade companies, factories, research institutes and foreign enterprises in China.

The main role of Canton Fair is to export and import trade businesses. Apart from that, it also performs several other business activities such as; technical, economical, co-operation, exchange, advertising, trade consultation, commodity inspection, insurance, transportation and conduct a variety of foreign exhibitions within the country and also abroad among other important duties.

Over the years, Canton Fair has made it easier for its participant to acquire commodities at cheaper prices thus saving time, money and transaction costs. Known as a link of commerce in China, the trade fair organization brings participants from all over the world to experience the extensive range of products displayed. It also provides online platforms for business negotiations through the Canton Fair Online.

By bringing business people from all over the world, Canton Fair not only gives a platform for exchanging business information but also creates opportunity for effective networking. Furthermore, it also offers variable trade patterns for import and export of different supplies of produce to various nations worldwide. In the past years, China has became the biggest exporter in the world. Most of Chinese exporters attend the fair twice every year, just like a festival. Companies all over the world attend it in order to find suppliers who can offer cheaper products. They come here twice every year, or hire a local sourcing agent to meet their suppliers. No one want to miss this super big “party” if you want to expand you profit and find new products in your industry.

Therefore are some of the facts about it includes the following:

· Time Interval – Canton Fair holds two events every year and usually has three phases per event. The events are usually held during the spring season (April 15-19 Phase 1, April 23-27 Phase 2, May 1-5 Phase 3) and autumn season (October 15-19 Phase 1, October 23-27 Phase 2, October 31-November 4 Phase 3).

Each phase usually display different supplies. Here is how the supplies are displayed per phase.

  • Phase 1 – Electrical devices, machinery, lighting gear, vehicles, spare parts, hardware tools, chemical products, building materials and electronics.
  • Phase 2 – Gifts, decoration goods and consumer products.
  • Phase 3 – Health products, medical devices, medicine, recreation products, office supplies, cases and bags, textile and garments, shoes.

· Number Of Stalls – The Canton Fair plays host to over 55,800 standard stalls.

· Venues – The events are usually held at The China Import and Export Fair Complex (Pazhou), 380 Yuejiangzhong Road, Haizhu District Guangzhou 510335.

· Overall Exhibition Space – It covers a total space of 1,125,000 meter square.

· Diversity – Offers over 150,000.

· Revenue – $ 262.3 million.

· Total Number Of Trading Countries – The Canton Fair attracts participation from 203 countries worldwide per session.

· Number Of Guests – The fair hosts up to 165,436 guests during each session.

· Exhibitors – 21,709 Chinese exhibitors and 395 International exhibitors participate in the Canton Fair giving a total of 22,104 exhibitors.

Despite the current global economy recession, The Canton Fair remains the highest profitable and prestigious trade event. All over the world, it is known to be the ultimate entry into the Chinese market making China to be the best at maintaining international trade. Moreover, it has also 50 specialized exhibition zones in 15 major categories with incessant variety of products at every exhibition. During each and every trade event, the organization registers the highest number of deals with foreign countries. The dealers usually expand their purchase from China during the events.

Over the years, Canton Fair has grown to be increasingly sophisticated in executing its functions becoming highly profitable to the Government of China as the Trade Fair event which started as a Government organization before.