Importing from China made easy
Importing machinery and raw materials from China can be complex and risky – but it doesn’t have to be. Here’s how we helped NRS Solutions source the equipment needed to reduce costs and expand its offering.
China's manufacturing prowess has transformed it into the world's factory. Its unparalleled capacity, speed, and cost-effectiveness have propelled its share of global manufacturing from a modest 3.5% in 1990 to a staggering 35% in 2020.
Remarkably, China is the only nation on Earth encompassing all industrial categories under the United Nations' classification system. This extraordinary versatility means it can produce virtually any product the international trade market demands, solidifying its position as the world’s ‘sole manufacturing superpower.’
These factors make China the ideal destination for companies to purchase machinery, inputs, and other goods. However, sourcing and vetting trusted Chinese suppliers is no easy feat.
That's why it’s not uncommon to hear nightmarish tales of companies losing money on Chinese imports due to working with unscrupulous suppliers, non-compliance with ISO standards resulting in confiscation goods at customs, mismatches between products ordered and received, or equipment that is simply unfit for purpose.
NRS Solutions: An Africa-China Import Success Story
Since 2013, NRS Solutions has carved out a niche in the South African manufacturing landscape. Specialising in instrumentation control cables, the Johannesburg-based company has steadily expanded its reach beyond the country’s borders, and its future growth strategy eyes the introduction of new products to serve new markets and further expansion of its footprint in Southern Africa.
A significant factor curtailing these ambitions, however, were the capability constraints and maintenance costs associated with ageing equipment. While the company recognised the need to source new machinery, it was weary of the risks and complexity inherent in international imports.
Managing Director of NRS Solutions, Vincent Bezuidenhout, explains: “Our expansion goals included bringing in new machines, and for us to do this, we had to be very careful because we don't have massive amounts of financial resources available to take chances on the wrong equipment. In my experience, I've seen other manufacturers who've imported based on drawings or pictures of machinery, and when the machinery has arrived, it's inaccurate or not fit for purpose – a costly mistake on their part.”
When NRS Solutions expressed interest in acquiring new industrial equipment, their Standard Bank Relationship Banker introduced the business to its Africa-China Trade Solutions desk.
“What surprised me was finding out we could actually import equipment and raw materials through the bank, which was something we never thought was possible and that gave us a great sense of security and ultimately a return on investment,” Bezuidenhout notes.
Standard Bank introduced NRS Solutions to its Chinese Import Partner, Guomao, which specialises in sourcing and vetting Chinese suppliers and managing imports for international clients.
“We were introduced to a couple of factories directly. We then sent out our request for a quotation, which Guamao went and sourced for us from the various factories they work with, and they came back with tangible results within a few days,” says Bezuidenhout.
“From the time of quotation and sourcing suppliers in China all the way through to placing the order, getting the finance through Standard Bank and delivery to our factory was a seamless end-to-end process with no issues at all.”
Africa-China Import Solutions
Here are six ways Standard Bank’s unique Africa-China Import Proposition adds value to businesses:
- Introduction to our trusted English-Mandarin-speaking Chinese Import Partner, Guomao, to assist in sourcing the right products and negotiating the best rates
- Products are sourced from vetted, reliable international suppliers with pre-shipping inspections to verify quality standards
- Comprehensive trade finance, working capital, and risk mitigation trade products at competitive rates
- A trade expert as your single point of contact to handle all import needs on each transaction
- Assistance with settling your Trade transaction in Renminbi (RMB)
- Ongoing predictive all-in landed cost and delivery timelines on imports, with real-time tracking of goods in transit.
Watch the Customer Growth Video
See how our Africa-China Trade Solutions team partnered with NRS Solutions to deliver a seamless end-to-end import solution that helped the business achieve supply chain independence and cost savings by cutting out middlemen.
Download our Free Importing e-Book
Download our free Importing from China e-book
This interactive e-book provides an in-depth guide for anyone new to importing from China.
Interested in Learning More?
Contact your Relationship Manager, click here, or email us at [email protected] to learn how our Africa-China Trade Solutions can give your business an unrivalled competitive advantage when importing from and exporting to China.