China Holidays 2024 that Impact Manufacturing and Business

by Axton Global
china new year holidays 2024
China is a major world exporter. It is the largest exporter in the world. A significant number of businesses receive imports from this country. However, to enhance the import-export relationship throughout the year and prevent any impact on your company, you must consider the 2024 China holidays.

Many vacation periods can disrupt smooth trade from business holidays to China national holidays 2024. What is the easiest way to ensure your business can continue trading effortlessly during these times? Our article will explore how the main vacation periods affect trade and the easiest ways to navigate and prepare for these vacations as a company.

Why Consider China 2024 Holidays as an Importer Business?

Importer businesses run the risk of disrupted trade when their imports coincide with Chinese vacation periods. Preparing for imports, transactions, and complete business operations can be difficult because Chinese vacation periods are not fixed. The vacation periods can change dates each year, so it is fundamental to consider these periods in advance.

Chinese vacation periods impact your business in terms of production, delays in shipping, and potentially low-quality goods. Production can halt because the manufacturing factories close for the vacation period. Delays in shipping occur because many workers tend to leave the factory to begin their vacation. Lower-quality goods are produced due to the inconsistent timing of the workers’ return to the factory and pressure to fulfill higher quantities of orders, which leads to inconsistency in goods production and a lack of quality control.

Five 2024 China Holiday Periods that Interfere in Business

Multiple Chinese vacation periods, such as bank holidays China 2024, can interfere with business transactions for imports and exports. Our financial experts have gathered the main vacation periods you need to consider and outlined how they can affect your importer business here.
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1. Chinese New Year 2024 China Holiday (Between February 9 and February 15)

Chinese New Year is a significant national vacation that significantly impacts foreign trade. This holiday 2024 can interfere with the production of goods and the logistic preparations between exporters and your business. Since factories can shut down for two weeks and sometimes longer, there is a significant interruption in manufacturing and business. During this Chinese New Year shutdown 2024, factory employees cease production, and it becomes difficult to contact factory managers.

However, the period after Chinese New Year 2024 China public holiday can also include significant demands from foreign importers who need to recover lost business after the delayed shipment of goods. The vacation break leads to overloaded terminals, which also leads to higher freight costs.

You may find that some of your loads remain at the port until after the vacation period unless you plan accordingly.

2. Qingming Festival (Between April 3 and April 5)

The Qingming Festival occurs on April 4. Some workers celebrate this traditional vacation period between April 3 and April 5. It is a day to pay respects to the deceased and includes visits to the ancestors' gravesites. During this period, trade begins to slow; international imports from Chinese exporters are greatly reduced.

This festival also affects transportation and logistics. It means delays at ports and longer transport time can lead to delays in the receipt of goods. It also means that the available transport is reduced, which means you are less likely to receive timely imports.

Yet, since celebrations can begin 10 days earlier, trade can become quieter before these specific dates. Your company’s imports may not be as significantly affected by the Qingming Festival compared with Chinese New Year, but planning for disruptions during this traditional festival is essential.

3. Labor Day (Between May 1 and May 3)

Labor Day takes place between May 1 and May 3 in China. This longer celebration differs from the Labor Day vacation period celebrated in foreign countries, which often lasts just one day.

This vacation period affects factories and shipping logistics. Many workers will not be in the factory, and there can be labor shortages at ports. Therefore, shipment administration can be hindered, and delays can occur during this holiday.

4. Moon Festival (September 17)

During the Fall season, Chinese factory workers celebrate the Moon Festival. It is a highly celebrated festival that comes in the middle of September 2024. Since many factory workers gather with family and friends to celebrate this festival, factories close.

Many workers will take a week of vacation during this period; however, this can extend to the Golden Week celebrations.

You will find that some shipping transportation options also cease during the Moon Festival or Mid-Autumn Festival. Ocean and air freight operations often come to a close. Sometimes, your goods may remain in storage until early October.

5. National Day of China (October 1)

The National Day of China, or Golden Week, occurs from October 1 to October 7. It is the second most important national vacation period. Since it takes place before busy e-commerce events and gift-giving occasions such as Christmas, your business needs to consider that the reduced availability of goods shipment can impact business operations.

Workforces are reduced in Chinese factories during Golden Week, which can mean production slows down. After the vacation period, factories must account for the orders backlog. It can take weeks until the operations return to normal.

How Can Your Importer Business Prepare for Chinese National Holidays 2024

Ensuring your importer business is prepared for shipment delays due to Chinese national vacation periods can make importing more efficient. Consider the following factors to ensure your company is ready for these periods.

1. Increase Your Stock

You will need to increase your stock during Chinese national vacations. A good approach is ensuring your stockpile lasts up to one month. This process means you will need to increase the quantity of goods you import from Chinese exporters and order more than your standard amount.

2. Place Your Stock Order in Advance

If you are placing an order for ocean or air shipments, place the order in advance. For example, you may need to book the order three or four weeks ahead of Golden Week if your goods are transported with ocean shipments. If air shipments transport your goods, book the order at least one week before Golden Week.

3. Remain in Contact with the Exporter

Contacting the exporter will help you know which vacation periods to consider. Your supplier will inform you which delays you should acknowledge and give you accurate dates related to your shipments. They may recommend early orders and advise you when to place the order.

4. Consider Trade Credit Insurance

Although the quality of goods can decline during Chinese vacation periods due to fewer available workers, trade credit insurance can help your company. By proving your exporter has delivered defective goods, your business has the backing of trade credit insurance bodies. In this case, your importer business will not face sanctions for the goods.

Consult with Axton Global’s Professionals for Trade Credit Insurance

The benefits of trade credit insurance extend from recourse for defective goods and faster transactions to multiple transactions if you need to order several goods ahead of Chinese vacation periods. Axton Global makes registering for trade credit insurance from SINOSURE a fast and simple process to ensure your company is prepared to increase your stockpile and gain protection for damaged goods.

Book a consultation to find out what Axton Global’s professionals can do for your application. Apply for trade credit insurance with our experts, plan for Chinese vacations, and ensure your business prospers.

We help importers from all over the world to improve their trading terms with Chinese suppliers and extend payments to the supplier for 90 to 120 days using the Sinosure credit insurance tool

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