Dumplings! Red Pockets! Fire crackers! Lanterns! That”s right! It”s Chinese New Year. As the Year of the Dragon dawns upon us, China”s production system comes to a halt as factory workers go to their home town to celebrate the most important holiday of the year -The Spring Festival.
For almost a month, trade flow stops in China. No workers. No production. No imports. No exports. Nothing. China shuts down. While this is an opportunity for the workers to take a much deserved break, this halt becomes problematic for many customers. This predicament is never favourable for companies, especially those that were unable to have their stock shipped due to overcrowding at the ports. During this break, manufacturers are flooded with incoming orders for production in the new year.
While it may seem a nuisance to the importer, it needn”t be all bad news. This time of year is the perfect opportunity for importers to prepare for when the workers return from holidays. By effectively using this break to determine product specifications, budget, alternatives and the like, importers will be able to put in an order as soon as workers return, hence preventing further delay incurred by an excessive amount of orders.
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