How to get ＄500,000 purchasing capital in global trade?

Today, we are going to study a successful case of getting purchasing capital from eGTCP.

image credit: internet

The leading character of our story today is Abhinandan. He first came to know us at the 3^rd Global Trade & Credit Conference (GTCC) last year and finally decided to cooperate with us by applying for purchasing credit line of USD 500,000 after over 6 months of consultation and investigation.

▲Buyer-Abhinandan

Invited by our staff Leo through LinkedIn, Abhinandan attended the 3^rd GTCC with the intention of buying computer-related products and accessories on site.

▲Invitation of the 3^rd GTCC

The 3rdGTCC last year was an event to remember for Abhinandan. At the conference, he learned about our financial services where we help buyer do Open Account orders with Purchasing Credit Card.

In Feb. 2018, Abhinandan applied to Leo for our financing service so as to,
increase his purchasing volumes, find new suppliers and release capital pressure.

▲On-site Photos from the 3^rd GTCC and Purchasing &Matching Conference

After over 6 months of consultation and investigation, and with full confidence and trust of the Platform,

Abhinandan applied to us for the financing service of USD 500,000.

【Tips】
eGTCP Financing Service is provided by the Financial Service Provider of the Platform -- Zhejiang Great Tao Factoring Co., Ltd.

Zhejiang Great Tao Factoring Co., Ltd. is a wholly owned subsidiary of the Great Tao Group specializing in international and domestic commercial factoring.
It is not only one of the first commercial factoring companies in China, the first professional commercial factoring organization in Zhejiang Province, but also one of the institutions engaged in international commercial factoring business on a large scale in China. It was also invited to become a member of the Commercial Factoring Expertise Committee of CATIS and the only Chinese member of the International Factoring Association (IFA).

With the mission of “financing for small and medium-sized enterprises (SMEs)” in mind, Great Tao Factoring offers a series of comprehensive financial services to the SMEs including financing, credit investigation, credit assessment, business account management, risk bearing, debt collection, bad debt recovery and so on.

Up till now, it has served more than 5,300 SMEs with financing limit reaching USD 400 million and CNY 300 million respectively.
The GTR credit assessment has evaluated over 3,000 companies with trade risk frequency under 0.2% and risk-loss rate approaching 0.

▲Conversation between Leo and the financial adviser of Abhinanda

Abhinandan has purchased goods from China for many years now. With annual purchase volume reaching USD 5,000,000 - USD 7,000,000, he has not only his own purchasing representative in China but also many regular trading partners. Even the assessment fee of Purchasing Credit Card was transferred to the Platform through his Chinese supplier.

▲Company Website of Abhinanndan

▲Bank Slip of Abhinandan

Currently, Abhinandan is waiting for the detailed approved financing limit after submitting the Global Trade Credit Assessment materials to Aaron from Great Tao Factoring. Although Abhinandan has applied for USD 500,000 financing limit, the detailed approved financing limit shall be subject to evaluations of his company’s trade status, financial conditions and risk assessment etc.

▲The Great Tao Factoring Credit Assessment Agreement between Abhinandan and Great Tao Factoring

Q & A 

What’s the difference between financial buyer and average buyer for the Platform supplier?

The financial buyer of the Platform is the qualified buyer who has been verified by the Platform and the commercial factoring institution -Zhejiang Great Tao Factoring Co., Ltd. Great Tao Factoring learns of buyer’s trade status through his order records and bank slip. And through field investigation of his suppliers, it would also have a better understanding of the buyer’s actual operational conditions. Accordingly, the financing limit will be granted to such buyer after approval of Great Tao Factoring.

1. The approval of buyer's financing limit can fully assure the rights and interests of the supplier and reduce trade risks;
2. The buyer’s purchasing volume shall be increased after he gets the financing limit;
3. When the buyer with financing limit purchase products from the supplier, the supplier can get the payment for goods from the Platform in advance to recoup funds and minimize trade risks.

Besides, Abhinandan has also asked for the Canton Fair Booth No. of eGTCP, so that he may visit us while finding new products and suppliers during the fair. To show our appreciation of his support, we have decided to showcase him and his company on our homepage for free.

▲Abhinandan Displayed on the Home Page of the Platform

eGTCP will attend the second and third session of Canton Fair at booth AP411. Welcome to visit our booth for more details of Platform services and buyer information.
 

▲eGTCP's Canton Fair Booth in 2017

Preparation for the 4^th Global Trade & Credit Conference has begun with an initial enrollment reaching over 30 overseas buyers, 60 Chinese suppliers and a dozen of service providers.

Get financing limit here:

https://www.egtcp.com/financial-service.

Get FREE ENTRANCE of GTCC here:
http://gtcc.creditgt.com/

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You can also contact eGTCP.com directly via mail (service@egtcp.com) or phone (+86 400-159-8448).

                                                              

Tremendous business opportunity in Canton fair with eGTCP

The city of Guangzhou, historically known as Canton, has long being of great importance economically and geopolitically. Canton Fair was established in the Spring of 1957, and held in Guangzhou twice a year in spring and autumn ever since. Nowadays, it has become a comprehensive international trade fair with the longest history, largest scale and most variety in commodities, and has the largest attendees and best deals in China. The name "Canton Fair" was officially changed to "China Import and Export Fair" in the 101^st  session, in April 2007.

And eGTCP.com also attended this fair and offered business services to suppliers and buyers alike.

More than 500 buyers came to the booth and showed great interests about the services of eGTCP, and over 230 of them joined on-site to explore more business opportunities.

Please visit

https://www.egtcp.com/trade-fairs.html for more details and business opportunities.

If you want to start or expand your business in China,we can give you One-Stop Services.

1.Order matching &Sourcing:
Help you find Easy, Quick, Safe and Reliable suppliers

2.Trade Financial Services:
Apply GTCP Card, we pay your suppliers in advance

3.Logistics & Integrated Services:
What’s more, get free office in China

4.Great Tao Credit Assurance(GTCA):
Supplier investigation, help you to claim for disputes caused by suppliers

5.You Purchase, We Offer Reward:
Max 1.2% Rewards of Your Trade Volume On eGTCP.com

Free services in global trade:

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You can also contact eGTCP.com directly via mail or phone.

Email: service@egtcp.com Tel: +86 400-159-8448

                                                            

South Koreans are hoping for a revival at China’s biggest trade fair

A monkey-shaped novelty tea-infuser could be Jeoung Young-min’s ticket to Canton Fair, which is the biggest trade fair in China. And after months of political obstacles, things are finally starting to happen.

Days after China and South Korea agreed to shelve their year-long dispute over the Thaad U.S. missile system, small-scale exporters from the nation trying to break into their neighbor’s giant economy expressed optimism that trade restrictions and a de-facto boycott of their goods is over.

image credit: internet

Jeoung’s brand, a startup maker of design household goods, fell victim earlier this year to the falling out. Their first attempt at product marketed in China -- the monkey infuser -- was suddenly no longer able to clear Chinese customs and a tenth of their consignment already sold was returned, Jeoung said Friday at a booth at this year’s third installment of the Canton Fair in Guangzhou.

As the two nations began to work toward a solution to the impasse, trade restrictions on his product were lifted and Jeoung says without this "burden" he’s hoping the China market can make up 40 percent of his sales within five years.

As the world’s second-largest economy becomes a shopping superpower in its own right, manufacturers like Jeoung may represent a shift in the trade profile of the two countries, adding more consumer goods to the smartphone components and engineering products that currently dominate. China is South Korea’s largest trading partner, with more than $246 billion in bilateral commerce last year.

But despite the tough rhetoric around deleveraging, measures of credit continue to show expansion, with aggregate financing surging to a six-month high of 1.82 trillion yuan ($274 billion) in September. China’s corporate debt surged to 159 percent of the economy in 2016, compared with 104 percent 10 years ago, while overall borrowing climbed to 260 percent.

image credit: internet

While some business interrupted during the row is beginning to resume, exporters in Guangzhou underlined that it’s not a uniform process.

Cody Kim, an executive at Chamos Cosmetic Co. Ltd which makes skincare products for outside brands and markets its own Acaci line, said in Guangzhou that his company’s exports to China dropped by about 50 percent.

The method of the Chinese clampdown was again red-tape: Approval and import restrictions suddenly became draconian, and he says they still haven’t improved.

"Every Korean skincare manufacturer faced the same import and registration issues suddenly," Kim said in an interview. "We’re hopeful that things will improve now that there’s an improvement in the bilateral relationship. It’s only been a few days so we haven’t seen anything on the ground yet. But the China market has enormous potential for us."

Free services in global trade:

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You can also contact eGTCP.com directly via mail or phone.

Email: service@egtcp.com Tel: +86 400-159-8448

                                                            

Business strategy: 7 must-knows about Canton Fair

Canton Fair is the largest trade show in China and the second largest trade show over the world. First held in 1957, the Canton Fair takes place twice a year each spring and autumn in Guangzhou, China.

With that kind of range, you are going to need to prepare yourself well in advance before attending. Here are the must-knows before your next trip to the Canton Fair.

1. Apply Online

Don’t even think about attempting to wait in a line to grab your registration form. Apply online with us beforehand and save yourself one day of queuing. Then use that extra day to brush up on your Mandarin, visit Baiyun Mountain or tour the Zhenhai Tower.

2. Dress Appropriately

There’s no need for a 3-piece suit, but look presentable. We recommend business casual at minimum. You’ll be taken more seriously, which will help you when negotiating with your potential suppliers. The last thing you’ll want is to be brushed aside because you couldn’t bother to throw on pants before leaving your hotel.

3. Negotiate 

Speaking of negotiating, NEGOTIATE. Very rarely is the first price you’re given the best price you can get. Say nothing, and you’ll risk spending more than you have to. But speak up, and you’ll save big in the long run.

4. BYOP

Bring your own pens, and notebooks. You’d think the largest trade show in China would have easier access to writing materials, but these items can be surprisingly difficult to locate. So bring your own materials and make sure you use them to take plenty of notes.

  

5. Bring Plenty of Business Cards

Ten to 15 years ago this tip would’ve been a no-brainer. But the digital age has irreversibly impacted the art of the business card, so I’m here to make sure you’re prepared. Many of the business owners you speak with at the Canton Fair won’t hand over so much as a napkin to blow your nose until you present them with your card. Bring twice as many as you think you’ll need, then double that number and multiply it by five.

6. Bring a Book Bag 

Now that you’re locked and loaded with enough business cards to make Patrick Bateman jealous, you’re going to want a convenient place to store the hundreds of catalogs, brochures, samples, etc. that you can now collect from the booths you visit. If book bags aren’t your style, opt for a rolling luggage piece instead. Either way, make sure you have a place to store all of that swag.

7. Join with a reliable trade service platform

There are so many business opportunities and how to judge and choose? It will be great if there is a professional platform to help you screen out the highest quality partners! Here, at eGTCP.com, we offer order matching and credit facilities for better business. Please visit www.egtcp.com for more offers.

Free services in global trade:

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You can also contact eGTCP.com directly via mail or phone.

Email: service@egtcp.com Tel: +86 400-159-8448