Hong Kong
Doing business in any Asian country carries risks, but if you do your research well, trade there can be highly profitable. All you need to do is take certain precautions that are specific to the country, and you will find doing business in Asia is not be as thorny as it seems to be.
It is important, however, for those in US who are planning to trade in merchandise from Hong Kong to note that it is a free port that thrives on free trade. It is not the same as doing business with mainland China.
Fortunately, the trading environment is somewhat different from that of mainland China. It currently acts as an intermediary between China and the West and has somewhat of a laissez-faire attitude. This means transactions between private parties in Hong Kong are free from state intervention, and that includes any restrictive trade practices like taxes, tariffs and trade monopolies. This provides it with an edge over Mainland China in terms of Internet trading.
Recently, though, China has introduced some e-government and e-business programs to help it push the economy. Even then, it still is one up. Hong Kong on a stand-alone basis is quite high on e-readiness rankings as graded by The Economist Intelligence Unit. The Economist Intelligence Unit is the foremost research and analysis resource in the world. It ranked second in the world in 2008 only behind the US. The rankings are based on six criteria: business environment, social and cultural environment, legal and policy environment, infra structure and supporting services.
This is a fair indication that it is ahead when it comes to the ability to use information and communication technologies, which should be reassuring to entrepreneurs from the US who wish to trade merchandise from Hong Kong.
Nevertheless, there can always be some hiccups when buying merchandise from Hong Kong. Traders need to tackle these head-on if they want to expand their frontiers beyond the US. Here are some important pointers to know before plunging into buying agreements with Chinese dealers.
Delivery Time
If you are, buying goods, specifically from a wholesaler, check out the availability of the stock. Quite often, when you buy from Hong Kong, your merchandise can be on the waiting list with delivery that you don’t like. Buy directly from the factory instead to get shipping advantages. This way, you avoid costs of transport from the port of entry to the distributors’ storehouse.
Check For Spares
Getting spares can be a drawback when buying merchandise from Hong Kong. Check for spares. As a test case, ask for a vital replacement component. You would not like to sell your products back in the US without being able to store adequate spares.
Ensure A Warranty
Many petty traders seem to skip warranty in many cases. Merchandise, especially electronics, look to be great bargain, so check out the guarantee issue. There is nothing like an international warranty. On the other hand, local guarantee is okay if you visit Hong Kong often. However, be wary of no warranty; it makes good business sense to draft up your own warranty and negotiate it with Hong Kong traders.
Authenticate The Dealer License
This is a vital step. You may have verified goods from Hong Kong, but it is important to verify that the dealer has a valid license.
Other Issues
When buying goods in the US, consumers expect certain standard conditions. Some traders may push sales whatever way they can. A sensible way to protect your business when buying products is to get everything in writing. In addition, also check on a money-back guarantee and a factory recall agreement. Many dealers in may not have any of these, though.
Finally
Buying merchandise from Hong Kong can carry some risks, but if you are well-prepared and informed, the advantages outweigh the cons. After all, it has a free trade policy so it does not charge tariffs on importation and exportation of goods. Besides, import and export licensing is kept to a minimum.
Hong Kong is destined to become one of the world’s largest trading economies. There is no reason why you should not leverage this potential while buying merchandise from Hong Kong to sell in the US.
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747 Crosswind Landing Hong Kong Kai Tak Airport (1998)
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Hong Kong by Stephen Coonts (2001, Paperback) $0.69 |
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Desktop Business Card Holder – Hong Kong $1.99 |
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Hot Wheels bw GOLD CHROME RODGER DODGER hong kong, 1977 $22.05 |
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VINTAGE RETRO KEROSENE OIL LAMP MINI GREEN GLASS MADE IN HONG KONG 1960′s 1970′s $49.95 |
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Hong Kong HKJC Stamp Vengeance of Rain Pack Horse $2.50 |
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Vintage Women’s Carlisle Black / Twilight Jacket Size 14 Hong Kong Size 14 NWT $34.99 |
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HONG KONG G V 1922 CHINA O/PRINT 2c (Scr) sg 19 H.MINT $4.35 |
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Travel Suitcase London Hong Kong Moscow Silver charm $15.46 |
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POSTCARD HONG KONG CARGO JUNKS & SAMPANS IN H.K. HARBOUR.PUB. M STERNBERG $7.89 |
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HONG KONG G V 1922 CHINA O/PRINT 4c (Scr) sg 20 H.MINT $9.10 |
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2 GEARED DRIVE WHEEL SET H1033 FOR HONG KONG TYCO TRAIN $5.99 |
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HONG KONG 30 DIFFERENT POSTCARDS IN PACKET STREETS $49.95 |
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TURKISH MOVIE POSTER-FROM HONG KONG WITH LOVE-SPY-1975 $9.00 |
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Tin BOX, Advertising “SWAN” Brand,” Kamberlain Confectionery Co.” [ Hong Kong ] $4.99 |
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Vintage STAR WARS action figure: R5-D4 1978 HONG KONG C8.5 Complete $9.95 |
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Hong Kong #66 Mint Hinged Victoria 1891 Jubilee (SG 51) $500.00 |
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HONG KONG, R-cover to the USA 1940, stamps pair $10.00 |
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The Magic Stone, 1st Ed. 1966 A Legend from Hong Kong, book of film HB $71.19 |
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HONG KONG G V 1922 CHINA O/PRINT 24c (Scr) sg 24 H.MINT $13.05 |
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2 MOTOR GEARS AS USED IN TYCO TRAINS MADE IN HONG KONG $2.99 |
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TIGER FROM HONG KONG – CHANG YI – NANCY YEN – DVD – ENGLISH – 1974 $4.79 |
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HongKong&SangHai Banking 5Dollars 1941 $33.99 |
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2 MOTOR GEARS AS USED IN TYCO TRAINS MADE IN HONG KONG $2.99 |
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Hong Kong #223-224 Mint Hinged Intl Cooperation Issue $18.00 |
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Andy Lau “Hong Kong Godfather” Joey Wong HK 1991 Action OOP DVD $12.99 |
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Charles Chaplin A Countess From Hong Kong LP PROMO VG+ $8.00 |
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6 – Vintage Silver Plated on Brass Napkin Rings Made Hong Kong FREE SHIPPING!!! $28.95 |
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MAN FROM HONG KONG MOVIE POSTER ’75 GEORGE LAZENBY $60.00 |
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