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What Should We Do in Business for 2021?

This article will discuss the current (January 2021) situation in China,and try to help those companies that are importing or planning to import from China in 2021.

What is the current situation in China?

1. The pandemic has been under control since March 2020 and people are working as usual.
You may hear that China did well in fighting with Covid-19. How is it actually? Look at the chart below. The data is real (Google search “COVID-19”).

The chart shows that since 6th March 2020 there were less than 50 new cases and most time less than 10 new cases each day till now in China. So

2. China’s factories can produce goods as fast as normal. Most global orders are coming to China.
The following chart is from the China Customs website. It shows China’s export data from March to November 2020. The data in December 2020 is probably even higher. 

The impact of increasing overseas orders:
a. Raw materials, goods prices are rising (Of course, other reasons are also causing prices to rise).
b. The express delivery flood the warehouse, and the freight rate skyrocketed.
c. Order delivery time extended.

3. The USD/CNY exchange rate went down sharply.
Based on many reasons, the USD/CNY exchange rate was going down to 6.4 from 7.1 in July 2020. How will it go in 2021? We cannot predict it. But it is unlikely to go up, possibly go down again. As almost all overseas clients pay USD to Chinese suppliers, who purchase everything with CNY in China. Chinese suppliers have to raise prices when the USD/CNY exchange rate goes down sharply.

What should we do in business for 2021?

1. Choose as early as possible some reliable Chinese suppliers that supply the products you sell.
Because once the pandemic is over, manufacturers in other countries still need several months to recover their supply chains.

2. Place orders as earlier as possible, set more days to deliver.

3. Try to reduce shipping costs.
We give strong support in supplying Film/TV/Studio lightings and batteries from China in 2021. If you need to import such kinds of products, please visit and contact us. We will not let you down. If you need to look for trusted suppliers of other products or reduce shipping costs, we have professional staff to help you.

Let’s be positive for 2021 and the world’s future!

Hi, I'm Bing Bai, the author of this post.
I have been in the field of LED film and studio lighting for more than 9 years. If you would like to learn more about our products or lighting solutions, feel free to let me know.

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