Chinese New Year, the most traditional holiday in China, is celebrated on February 5, 2019 and culminates with the Lantern Festival.
In the year of the Earth Pig, an excellent business environment is expected, as an industrious spirit will prevail, characterized by abundance, joy and carefreeness, marking the end of a full rotation cycle of the twelve signs of the Chinese zodiac.
Pre-Chinese New Year:
To avoid any inconvenience in production, we must confirm the order at least by the end of November.
In January, suppliers stop accepting new orders and do not usually offer quotations and if they do, they will not be at competitive prices. The reason is that their subcontractors at this time of year increase raw material prices, reducing profits, and transportation costs increase.
Chinese New Year vacations:
Commercial and administrative departments: On average, they have a 2 week vacation.
Production Department: They enjoy 4 to 6 weeks of vacation.
Chinese New Year is here: What will happen to my purchase orders?
The workers take advantage of this holiday to return to their villages and enjoy with their families, so during this time it will not be possible to finalize any new purchase order, perhaps a salesperson will respond to your inquiry but it will not be possible to make any significant progress.
After the Chinese New Year: What now?
First week of March, the activities begin!
Many companies in China lose approximately 40% of their employees, hiring and training new workers can take months, with March and April presenting the greatest quality problems. If you want to avoid these manufacturing defects we recommend the following link.
In addition, most of the factories upon return will still have confirmed orders pending prior to the start of the ANC. Therefore, new orders will have to wait until the pending orders are completed.
Keep in mind that a good relationship with the supplier will help you to give priority to your orders, in MingTa we help you to strengthen this relationship.
Chinese New Year scams:
Every year not only new companies are created in China, also many others close their doors and the most propitious time for this is during the Chinese New Year, carrying debts and that is why, for example, will require more emphasis on the payment of the advance claiming that it is to start production, however the same will go to pay their debts and will not comply with the agreement with the client, at this stage the supplier no longer has any reputation or image to care, therefore nothing to lose … Read more.
That is why we recommend, if possible, to work with a reputable purchasing agent with a physical office in China in order to ensure the reliability of the supplier.
Mingta Group helps you with your purchasing plan to ensure a correct supply and that the Chinese New Year does not cause you to lose sales.
