General

In the first half of 2022, China's import and export of goods grew rapidly, and the trade structure continued to be optimized. Data shows that the import and export of goods increased by 9.4% year-on-year in the first half of the year. Among them, exports increased by 13.2%; Imports increased by 4.8%. Import and export balance, with a trade surplus of 2481.2 billion yuan.

China's foreign trade imports and exports are steadily increasing, achieving year-on-year positive growth for 8 consecutive quarters. After a stable start to the first quarter, the trend of declining growth in April was quickly reversed in May and June, laying a solid foundation for maintaining stability and improving the quality of foreign trade throughout the year.

So what is international trade?

International trade, also known as trade, refers to the cross-border trade of goods and services, which generally consists of import trade and export trade. Therefore, it can also be called import and export trade. International trade is also known as world trade.

What is the process of international trade?

The export goods process mainly includes: quotation, ordering, payment method, stocking, packaging, customs clearance procedures, loading, transportation insurance, bill of lading, and foreign exchange settlement.

1. Quotation: In international trade, the inquiry, quotation, and pricing of goods serve as the starting point of trade. The type, quantity, packaging, destination, delivery time, transportation method, and material of goods must be clearly inquired during the quotation. Commonly used quotations include FOB, CNF, CIF, and other forms.

2. Ordering: After both parties have agreed on the pricing matters, they can sign a contract and negotiate related matters of the contract. Normally, a purchase contract is signed in duplicate and takes effect when both parties affix their company seals, with each party keeping one copy.

3. Payment methods: Generally including wire transfer, letter of credit, T/T payment, and direct payment.

4. Preparation and Shipping Schedule: According to the requirements of the contract, the quality, specifications, quantity, and preparation time of the goods should be determined one by one. Then, the shipping schedule should be determined with the shipping company, and the next step should be taken. A shipment of goods has officially started its operation.

5. Packaging: The packaging forms of goods include cardboard boxes, wooden boxes, woven bags, etc. If there are no special requirements, they will be packaged according to general standards.

6. Customs clearance: According to the requirements of exported goods, prepare relevant proof materials for the goods, and handle customs clearance procedures legally and compliant. If there are goods that belong to special inspection, an export commodity inspection certificate must be obtained.

7. Loading: Determine the loading method based on the quantity and characteristics of the goods.

8. Transportation insurance: Generally, the relevant matters of transportation insurance are agreed upon when signing a contract. Common insurances include marine cargo transportation insurance, land and air mail cargo transportation insurance, etc.

9. Bill of Lading: A bill of lading is a document signed by the export company after the exporter completes the export customs clearance procedures and customs clearance, which is used by the importer to pick up the goods and settle the foreign exchange.

10. Foreign exchange settlement: According to relevant regulations, normal foreign exchange settlement is carried out through common methods such as letter of credit settlement, wire transfer, bill of exchange, and letter of exchange.