Importing from China

China Import Guide | Trade Finance Global

Importing from China

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.

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%).

China Country Profile

Official Name (Local Language) The People's Republic of China
Capital Beijing
Population 1,373,541,278
Currency Chinese Yuan Renminbi
GDP $10,730 billion
Languages Chinese (Mandarin)
Telephone Dial In 86

China Exports Profile

Exports ($m USD)

2,263,371

Number of Export Products

4,433

Number of Export Partners

215

Top 5 export partners

Country

Trade

% Partner Share

United States

430,328

19.01%

Hong Kong, China

279,211

12.34%

Japan

137,259

6.06%

Korea, Rep,

102,704

4.54%

Vietnam

71,617

3.16

Top 5 Export Products at HS 6 digit level

Export Product

Number

Transmission apparatus, for radioteleph incorpo

7.7%

Storage units, whether or not presented with the

7.0%

Parts and accessories of automatic data process

3.0%

Monolithic integrated circuits, digital

2.4%

Parts of electrical apparatus for line telephon

1.5%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for China

Agriculture

%

Product List

8.6%

Rice, wheat, potatoes, corn, tobacco, peanuts, tea, apples, cotton, pork, mutton, eggs; fish, shrimp

Industry

%

Industry List

39.8%

Mining and ore processing, iron, steel, aluminum, and other metals, coal; machine building; armaments; textiles and apparel; petroleum; cement; chemicals; fertilizers; consumer products (including footwear, toys, and electronics); food processing; transpo

Services

%

Services List

51.6%

Importing from China: What is trade finance?

Trade finance is a revolving facility which some banks and specialist lenders offer – it enables organisations to buy inventory and can help ease the pressure from working capital problems.

Generally, an export finance bank will fund most of the cost of the products, including charges (e.g. delivery costs).

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.

How does it work?
If you’re 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.

I’m 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.

Hong Kong Quick Links

Information

China map

Importing from China? Contact our local experts

China_Flag

China Economic Statistics

Government Website

https://english1.english.gov.cn/

Sovereign Ratings

https://countryeconomy.com/ratings/china

Central Bank

People's Bank of China

Currency USD Exchange Rate

6.626

Unemployment Rate

4%

Population below poverty line

3.3%

Inflation Rate

2%

Prime Lending Rate

2.25%

GDP

$10,730 billion

GDP Pro Capita (PPP)

$14,600

Currency Name

Chinese Yuan Renminbi

Currency Code

CNY

World Bank Classification

Upper Middle Income

Competitive Industrial Performance

28/138

Corruption Perceptions Index

77/180

Ease of Doing Business

46/190

Enabling Trade Index

46/190

Enabling Trade Index

61/136

Currency in China

About the Author

Natasha Roston is Head of People and Growth at Trade Finance Global (TFG). 

She builds partnerships to create innovative trade finance education projects and experiences. A key advocate for TFG’s annual Women In Trade campaigns, Natasha wrote a piece on the impact of gender stereotypes for gender equality in the workplace in 2022. Natasha is also responsible for TFG careers, culture, and team growth. A Level 2 Qualified Coach and Mental Health First Aid Champion, she leads internal training, supporting the holistic wellbeing of the team.

Before joining TFG Natasha worked in education for over a decade. Initially as a classroom teacher, and then in academic and pastoral leadership roles. Following this, she worked in EdTech as a Learning Design Coach for Aula’s Higher Education platform.

Natasha holds an MA from Tel Aviv University, a History PGCE from The Institute of Education and a BA from the University of Nottingham. Currently, she is studying for her Level 3 Certificate in International Trade from the Institute of Export & International Trade. In addition to her work at TFG, Natasha volunteers for the Young Women’s Trust as a Work It Out – CV Volunteer. 

 

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