As Chinese Spring festival reaches its peak another year comes to an end we look forward to the Year of the Rabbit 兔年. We wish all our customers a very happy and successful year ahead. The last year has been challenging with many changes. Shipping rates have happily reverted to pre covid levels. But currency exchange rates have been volatile. There have been shut downs, lock downs and closures but despite all this trading has been good with many companies successfully placing new orders and we have not experienced delays in delivery of orders. Port congestion in the Uk and EU over the past year but this now seems to be partly resolved at least. The coming year looks very promising with a renewed interest from many companies in sourcing from China. It’s not all been one way traffic and we have also seen a growth in exports to China.
The new year offers opportunities to change the fortunes of your company and take advantage of very favourable trading conditions in China. With the dismantling of strict Covid controls the opportunity to visit this wonderful country has again opened. For those wishing to visit factories and suppliers it is now once again possible and we have seen a large increase in inquiries from businesses wishing us to arrange tours of suppliers for them.
Technological advances continues apace in China with many new and innovative products coming to market. The increase demand for electric vehicles from scooters and bikes through to cars continues unabated. Shortages and high demand for electrical components including chipsets continues. However one needs extreme caution in this area as there seem to numerous bogus suppliers and even outright scams being operated in this area. As with all acquisitions good due diligence and back ground checks are recommended.
For customers requiring independent on the ground verification and inspections of factories we are in an excellent position to assist having expanded our office in Guangzhou over the past year.
A very happy New Year to you all and may your families have prosperous and peaceful year of the Rabbit.