There is a limitless opportunity of making money by doing business in the Chinese market. Semiconductors, solar panels, and garments are the top 3 hot selling China-made items right now. But identifying the proper suppliers is one of the most challenging tasks in your consumer good business.
Sourcing and importing from China have become accessible to businesses of every size. It has become easier, cheaper, and lucrative. In this scenario, the role of a trusted sourcing agent has become greatly vital. A reliable sourcing agent is a huge asset to any foreign company importing products and goods from China.
China is by far the largest consumer of semiconductors; it accounts for about 45 percent of the worldwide demand for chips, used both in China and for exports. But more than 90 percent of its consumption relies on imported integrated circuits. Boosting the semiconductor industry is the move to become self-sufficient and making China the best place for sourcing integrated circuits. China has steadily intensified efforts to build a homegrown semiconductor manufacturing industry, as the country tries to cut its reliance on overseas chip manufacturers and reduce the technology gap.
Solar power is probably the most promising source of renewable energy and China is making it affordable. China is the primary provider of solar panels across the globe. Seeing as the components utilized in manufacturing these panels such as polysilicon is very abundant in the country. Chinese producers are familiar to produce goods according to the purchaser’s conditions. Though, the solar industry is a little different in the sense that goods customization is normally not necessary. Solar panel dealers produce goods according to a pre-determined set of goods terms.
The total amount of textile and apparel-related import items from China have increased a lot over the years and will continue to enhance further. Here is a list of the most in-demand garment items US companies source from China
- Garment Fabrics: Fabric is the basic material for manufacturing garments. US companies import mainly two types of woven and knitted fabrics from China.
- Sports Wear: America is a sports fanatic nation where people love to showcase the team they support through wearing the jerseys of their favorite team. Apart from this exercise garments, riding attires, sports uniforms, and specialized sports attires are hugely imported from China and they have massive demand in the USA.
- Kids Wear: Different types of kids wear have a huge market in America. Kidswear sourced from China is very popular.
- Fashion Wear, Occasional Wear, and Casual Wear: Chinese fashion wear items are very trendy. Apart from this, casual and occasional wear is also hugely imported from China.
There is a limitless opportunity of making money by doing business in the Chinese market. But identifying the proper suppliers is one of the most challenging tasks in your consumer good business. There are many scams, fakes, and unethical suppliers out there to watch out for.