Thursday 30 November 2017

The features of latest aluminum ingot business scam and the countermeasures

       We received a report from one of our Poland clients in early November, 2017, complaining that they were cheated by a Chinese supplier below, they placed an order of a full 20 ft aluminum ingot on June 22, 2017 and paid them the deposit (around 15000 USD) on July 04 but in late September, 2017 they received only three stacks of aluminum ingots from the supplier while the original contract quantity was 25 tons. This case has been formally reported to local officials and police station in China via STIN Case-Report Service, hoping local officials could help them out soon. Here are the scammer details: 

Handan Fubon Metal Technology Co., Ltd 
Attn: Mr. Li-Min Zhang - President   
        Mrs. Jennifer Chan (Sales)
Add: No. 1, Youyi Rode, Development Zone, Handan City, Hebei Province, China
Tel: 0086-310-5308662  Fax:0086-310-8051706
Email: timeless@hbfubang.com; admin@hbfubang.com
Website: www.hbfubang.com 

Let's tell you why this supplier might be a professional scammer without inspecting them in person. 

1.Fake contact names
The scammers normally hire an English translator to reply your email every day, using a fake name. You have no chance to know their real names in China, say, Jennifer Chan, this name is just created in English you cannot trace them in China at all. 

Also 99% of these business cheaters are from North China, covering Hebei, Tianjin, Liaoning and Shandong etc. 

Counter-measures: The client can ask them for their ID copy to know their real name in China before placing any large orders. 

2.Attractive payment terms
The scammer normally offers very attractive payment terms like: 30% deposit and 70% paid after checking the quality at the destination port. Please keep it in mind that the scammer only care your deposit, they do not care your rest balance at all. They will start to escape as soon as they receive your deposit in China. 

Counter-measures: If the order is large enough, the client is suggested to book an On-site Supplier Inspection or Investigation Service from STIN before placing any orders. 

3.Business address and business scope 
We note that this scammer did not use their full company address to sign the contract with the client. They used a fake address, which is also located in a rented residential area in China. In China, every company or exporter has their own limited business scope and lot of the businesses have to be licensed. We also noted that the items they sold online were far beyond their business scope in China. 

Countermeasures: STIN professional Company Verification Service can stop you from such cases in China. 

4.Fake company chop
We also noted that this scammer used a fake company chop to sign the contract in China. If they used a fake company chop, indicating that the client cannot take any legal actions against them as the contract is invalid in China. Please note that the official shape of any legal Company Chop is in a round instead of rectangular form. 

Countermeasures: We can help you check it for FREE in China. 

5.Full set of original documents with NO sufficient goods delivered
The scammer delivered a full set of original documents to the client but only shipped 1/50 of contract value. 

Countermeasures: The client is suggested to book an On-site Loading Process Supervision Service from STIN when the order is big enough to avoid such cases. 
 
Sources: STIN SERVICE TEAM (www.chinabizservices.com) - Your Eyes, Assistants and Office in China ! 

Wednesday 18 October 2017

STIN Pre-shipment QC Inspection - To be your eyes at Chinese factories!

      STIN Pre-shipment QC Inspection is an inspection of all the finished products,documents,package,shipping marks,quantity etc of your order at the factory.This service shall be performed when the order is 80-100% completed.

     Key features for Pre-shipment QC Inspection Service: 

  - Performed prior to the delivery of the shipment

  - Cater for large orders or the order with strict quality requirements. 

  - Prevent any defective products before loading

  - Checking of quality, workmanship and measurements

  - Quantity check

  - Appearance check

  - Style, color & material check

  - Function test /safety check

  - Package details check: shipping marks, label, hangtag, manner of packing, packing qty, safety of packing etc.

     STIN provides a range of Quality Control inspection services for overseas buyers, manufacturers, retailers and bulk commodity traders, including pre-production, during-production, final random sampling, pre-shipment, and loading process supervision inspection etc.

     Our mission is to save you more and reduce the risks in your business in China, we are simply acting as your own eyes,assistants and office in China !

     Would you like to reduce the risks and smooth your business in China ? Try Us Now !

Wednesday 6 September 2017

How the new Company Law Affect your Business Risk in China

When you are doing business with NEW companies (registered after March, 2014) here in China, you have to be more careful these days. We received most case reports these years compared to the periods before 2015. Some reporters said that the economic crime cases had been increased nearly 18% since the implementation of new Company Law, which came into effect on March 01, 2014. 
In order to streamline the whole corporation registration process and benefit more and more small businesses, China State Council adopted a new Company Law in early 2014, the new Company Law mainly involves following three amendments: 
1.On the registered capital
New Corporation Law of China modified the “statutory capital system” with a new system combining the “subscription capital system” and “statutory capital system”, indicating that the shareholders do not have to collect full capital to complete the company registration in China. 
2.On the license examination
New Company Law of China streamlined the official approval and assessment as well. The whole company registration used to have three different permits via three different official organs, that is Business License, Organization Code Certificate, Taxation Certificate respectively, now all these certificates are replaced by ONE unified Social Credit Identifier. With less annual official inspection and supervision, there are more and more business scammers springing up this year. It’s said that more than 28500 enterprises went bankrupt in 2015 only. 
3.On the least capital requirement inspection system
The new Company Law cancelled the Least Capital Requirement for some small business and also relaxed (eased) the policy on the registered capital for sharehold companies, further faciliating the market access for startups. Meanwhile, this policy also helped a lot to the crinimals as their crime cost has dropped substantially. 
All these measures dramatically facilitates the registration process and benefits lots of startups indeed, however, it also gives a hand to lot of criminals and lots of fly-by-night (shell) companies came out in 2014 and 2015. According to the statistics from STIN company, the demand for Company Verification and Supplier Auditing Service has increased 20% since late 2014. For any big business in China, a local Verification, Inspection or Auditing service plays a more and more important role in your safe business in China ! 

Wednesday 12 July 2017

Wednesday 24 May 2017

Top 10 products China manufactures most in the world

China is good at making many things, from shoes to mobile phones, clothes to computers, and toys to ships. Now the country has a 10-year national plan, Made in China 2025, which makes the world's second-largest economy ever more poised to move up the value chain and turn itself from a manufacturing giant into a world industrialized power.

No.1 Personal computers
China produced 286.2 million personal computers in 2014,accounting for 90.6 percent of the world's total. The per capita production was 40 times the average of other parts of the world.

No.2 Air conditioners
China makes 80 percent of the world's air conditioners - that's 109 billion annually. Per capita production is 17 times the average of other parts of the world.

No.3 Energy-saving lamps
The country's 4.3 billion energy-saving lamps account for 80 percent of the global total, with each person producing 3.2 lamps annually - 16 times the average of other parts of the world.

No.4 Solar cells
Overall capacity of solar cells hits 21.8 million kW annually, 80 percent of the world total

No.5 Mobile phones
China makes about 70.6 percent of global mobile phones, 1.77 billion annually. Per capita phone production is 10 times the average of other parts of the world.

No.6 Shoes
The number of shoes made in China annually reaches 12.6 billion, taking up 63 percent of the world's total. Its per capita production stands at 10 pairs, about eight times the average of other parts of the world.

No.7 Cement
China annually produces 1.8 billion tons of cement, which accounts for 60 percent of the world’s supply. Per capita production is more than six times the average of other parts of the world.

No.8 Pork
Pork bred by China contributes 49.8 percent of the total worldwide, hitting 1.5 million tons annually. That means for each person in China 40 kilograms are produced annually, six times the average of other parts of the world.

No.9 Coal
The country produces about 1.8 billion tons of coal (oil equivalent) annually, taking up 48.2 percent of the world's total. Its per capita production is also triple the average of other parts of the world.

No.10 Ships
China builds about 766 million tons of vessels annually, accounting for 45.1 percent of the world's total and triple the average per 1,000 people in other parts of the world each year.

Thursday 11 May 2017

The latest aluminum ingot business scammer from China

We received a report from one of our Indian customers last week, complaining that they were cheated by a Chinese supplier below, they placed an order of aluminum ingot in March, 2017 and paid them the deposit on March 15 but in early May they received an empty container from the supplier. I had a look at their Business Card below and found out that they might be a professional scammer in China:

Changchun Hua Sheng Metal Sales Co., Ltd
Attn: Mr. Frank Wang (C.E.O)  Mobile: 0086-151-22987201
      Mr. Tony Chen (Sales Manager)  Mobile: 0086-185-26655021
Add: Tower B, 24 E, Huasheng Plaza, No.146, Weidi Road, Hexi, Tianjin, China
Tel: 0086-022-60771752        Fax: 0086-022-60771752
Email: north_metal@163.com   3483381657@qq.com
Website: www.north-metal.com

Let's tell you why this supplier might be a professional scammer without inspecting them in person.

1.Company name and their business address
Their company name indicates that they are registered in Changchun city but their address betrayed that they were living in Tianjin city, China. These two cities are several hundred kilometers away from each other and it is NOT allowed for any normal and legal business in China.

2.Office telephone, fax and cellphones
Mobile: 0086-151-22987201  or  0086-185-26655021
Tel: 0086-022-60771752        Fax: 0086-022-60771752
Their telephone, fax and cell phone numbers are all registered in Tianjin city, while their company is registered in Changchun city, which is NOT allowed for any legal business in China.

By the way, everybody can position a mobilephone number simply by fill the number in the following blank:  http://www.hao123.com/haoserver/showjicc.htm

3.Business licesne checking
Any legal company from Changchun city can be checked out at Changchun MSA (short for Market Supervision Administration), here is their official website: www.ccgs.gov.cn
No information on this supplier found at Changchun MSA, indicating that they are NOT a qualified company now in China.

4.Business scopes
In China, every company or exporter has their own limited business scope and lot of the businesses have to be licensed. If the supplier is selling too many different hot-sale products onine, then it might be 100% scammer.

5.Unbelievable prices:
If their prices are too low to be true, you have to forget them or ask them for reference before doing any business with them. Ask them why their prices are so low. If your order is large enough, then you'd better book an On-site third-party supplier/ factory inspection service from STIN or similar service companies in China to check them out in person before further discussion.

Top 10 most attractive Chinese cities for foreigners

Shanghai ranked as the "most attractive" city for foreign residents due to its international atmosphere and multicultural environment, according to an annual survey.

Beijing remained second, thanks to its advantages in healthcare and educational resources, while Hangzhou also held onto third place.

The rankings, released on April 15, are based on a survey of about 25,000 expatriates nationwide in December and January.

The criteria ranged from living environment and local culture to administrative services and favorable policies for foreign residents.

The China Society for Research on International Professional Personnel Exchange and Development launched the annual survey in partnership with International Talent magazine in 2010 as a way to promote the nation's cities.

Let's take a look at the top 10 cities for foreigners.

No 1 Shanghai

No 2 Beijing

No 3 Hangzhou

No 4 Qingdao

No 5 Tianjin

No 6 Shenzhen

No 7 Suzhou

No 8 Guangzhou

No 9 Nanjing

No 10 Changchun

Resources: STIN News

Thursday 9 February 2017

2017 Top 10 Chinese brands

A total of 55 Chinese companies made to a list of the world's 500 most valuable brands this year, released by United Kingdom-based consulting firm Brand Finance.
Let us take a look at the top 10 outperformers from China.

No.1 ICBC
Brand value: $47.83 billion
Official website: www.icbc.com.cn

No.2 China Mobile
Brand value: $46.73 billion
Official website: www.10086.cn

No.3 China Construction Bank
Brand value: $41.38 billion
Official website: www.ccb.com

No.4 Alibaba
Brand value: $34.86 billion
Official website: www.alibaba.com

No.5 Bank of China
Brand value: $31.25 billion
Official website: www.boc.cn

No.6 Sinopec
Brand value: $29.56 billion
Official website: www.sinopecgroup.com

No.7 PetroChina
Brand value: $29 billion
Official website: www.cnpc.com.cn

No.8 Agricultural Bank of China
Brand value: $28.51 billion
Official website: www.abchina.com

No.9 Huawei
Brand value: $25.23 billion
Official website: www.huawei.com

No.10 Tencent
Brand value: $22.29 billion
Official website: www.qq.com

Among the top 10 brands, 7 of them are state-owned companies here in China.