{"id":18134,"date":"2019-02-15T23:47:58","date_gmt":"2019-02-15T23:47:58","guid":{"rendered":"https:\/\/www.tradefinanceglobal.com\/?post_type=imports&p=18134"},"modified":"2024-08-04T11:28:10","modified_gmt":"2024-08-04T11:28:10","slug":"china","status":"publish","type":"imports","link":"https:\/\/www.tradefinanceglobal.com\/imports\/china\/","title":{"rendered":"Importing from China"},"content":{"rendered":"\n
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\n Importing from China <\/h2>\n
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Last updated on 04 Aug 2024<\/div>\n
15 Feb 2019 . 2 min read<\/div>\n <\/div>\n <\/div>\n <\/div>\n\n\n
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China Quick Links<\/h4>\n <\/div>\n
\n \n Importing from China <\/a>\n \n Exporting to China <\/a>\n \n Trade Finance \u2013 Hong Kong <\/a>\n \n Invoice Finance \u2013 Hong Kong <\/a>\n \n Export Credit Agency (ECA) in Hong Kong <\/a>\n \n Export-Import Bank of China (CEXIM) | Export Credit Agency (ECA) in China <\/a>\n \n China Export & Credit Insurance Corporation (SINOSURE) | Export Credit Agency (ECA) in China <\/a>\n <\/div>\n<\/div><\/div>\n\n\n\n
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China Country Profile<\/h3>\n

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Official Name (Local Language) The People’s Republic of China<\/strong><\/p>\n

Capital Beijing<\/strong><\/p>\n

Population 1,373,541,278<\/strong><\/p>\n

Currency Chinese Yuan Renminbi<\/strong><\/p>\n

GDP\u00a0$10,730 billion<\/strong><\/p>\n

Languages Chinese (Mandarin)<\/strong><\/p>\n

Telephone Dial In 86<\/strong><\/p>\n<\/div><\/div>\n\n\n\n

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China Exports Profile<\/h3>\n

Exports ($m USD) 2,263,371<\/strong><\/p>\n

Number of Export Products 4,433<\/strong><\/p>\n

Number of Export Partners 215<\/strong><\/p>\n

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China Economic Statistics<\/h2>\n\n\n\n





Government Website<\/strong><\/td>		https:\/\/english1.english.gov.cn\/<\/a>
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Sovereign Ratings<\/strong><\/td>https:\/\/countryeconomy.com\/ratings\/china<\/a><\/td><\/tr>
Central Bank<\/strong><\/td>People’s Bank of China
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Currency USD Exchange Rate<\/strong><\/td>6.626
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Unemployment Rate<\/strong><\/td>4%<\/td><\/tr>
Population below poverty line<\/strong><\/td>3.3%
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Inflation Rate<\/strong><\/td>2%<\/td><\/tr>
Prime Lending Rate<\/strong><\/td>2.25%<\/td><\/tr>
GDP<\/strong><\/td>$10,730 billion<\/td><\/tr>
GDP Pro Capita (PPP)<\/strong><\/td>$14,600<\/td><\/tr>
Currency Name<\/strong><\/td>Chinese Yuan Renminbi<\/td><\/tr>
Currency Code<\/strong><\/td>CNY<\/td><\/tr>
World Bank Classification<\/strong><\/td>Upper Middle Income<\/td><\/tr>
Competitive Industrial Performance<\/strong><\/td>28\/138
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Corruption Perceptions Index<\/strong><\/td>77\/180
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Ease of Doing Business<\/strong><\/td>46\/190
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Enabling Trade Index<\/strong><\/td>46\/136<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

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Natasha Roston<\/div>\n
\n Natasha Roston is Head of People and Growth at Trade Finance Global, leading partnerships, education projects, and team growth. She advocates for TFG’s Women in Trade campaigns and supports team wellbeing as a Level 2 Qualified Coach and Mental Health First Aid Champion. With a background in education and EdTech, Natasha holds an MA from Tel Aviv University and is studying for a Level 3 Certificate in International Trade. <\/div>\n
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\n Access trade, receivables and supply chain finance <\/h4>\n

We assist companies to access trade and receivables finance through our relationships with 270+ banks, funds and alternative finance houses.<\/p>\n \n Get Started<\/span>\n <\/a>\n<\/div><\/div>\n\n\n\n

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Importing from China<\/h2>\n\n\n\n

The decline of exports from China has caused some alarm on world markets, having recently plunging by 11.2% over a single year. Between the 1980s and 2015 the USD HML figure for China averaged 540, with a low of 13 recorded in January 1984 and a high of 2275 in December 2014.<\/p>\n\n\n\n

Almost 20% of Chinese exports go to the United States every year, with other major partners including Hong Kong (15%), the European Union (15%), ASEAN countries (10%), Japan (5%), South Korea (3%) and India (3%). The spread of products China exports is very wide and includes mechanical and electrical products (40%), high tech products (20%), clothing and textiles (15%), motors (5%) and integrated circuits (5%).<\/p>\n\n\n\n

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Importing from China: What is trade finance?<\/h2>\n\n\n\n

Trade finance is a revolving facility which some banks and specialist lenders offer \u2013 it enables organisations to buy inventory and can help ease the pressure from working capital problems.<\/p>\n\n\n\n

Generally, an export finance bank will fund most of the cost of the products, including charges (e.g. delivery costs).<\/p>\n\n\n\n

Trade finance offers added advantages over more traditional bank finance including invoice finance or loans. Trade finance provides quick funding without affecting existing bank relationships.<\/p>\n\n\n\n

How does it work?
If you\u2019re an SME importing or exporting products outside of your own country, then a trade finance facility would allow you to fund this through offering a LC (letter of credit) or some form of cash advance.<\/p>\n\n\n\n

I\u2019m looking to import from China, how can Trade Finance Global help, and how does it work?
If you are looking to import stock supplies from other markets, you may need import finance, which is an agreement between yourself (the importer) and the foreign exporter. A alternative financier would act as the intermediary, paying the exporter on your behalf until you receive the inventory and have then sold them to your end debtor. Repaying the financier then occurs over an agreed period.<\/p>\n\n\n\n

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Chart Showing GDP Growth Compared to rest of world<\/h2>\n\n\n
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