China, often termed as “the world’s factory” is unavoidable when it comes to global trade. As of 2017, China accounted for 15% of the world’s GDP. China’s GDP is 64% of that of USA thereby making it the second largest economy in the world.
For majority of the countries around the world, when importing Chinese products, international freight movement is required and you will definitely deal with a variety of freight forwarding companies.
Unverified statistics indicate that in the city of Shanghai China alone, there are more than 10,000 freight forwarders registered. It is conceivable that the total number in China is even more astronomical.
Chinese freight forwarders have also had a bad rap due to a few of them perpetuating fraud and other illegal activities which are affecting many of the legitimate Chinese freight forwarders.
“How can I choose a qualified freight forwarder in China from such a large number?” is a question that might be on the minds of many people.
David Fan gives you some guidance through different perspectives based on many years of industry experience.
While traditional freight forwarder networks creates transparency, better connections and safe collaborations, the business model has not been a breakthrough by any means.. The way members conduct their businesses has remained the same, and the industry has been labelled antiquated and outdated..
If one looks at it objectively, it is easy to understand that it is the Freight Forwarder’s lack of digital resources and technological capability that has been restraining competitive growth in this volatile and digital market conditions..
Naturally, this has been noticed and the industry is seen by innovators in the technology space as a prime candidate for disruption.. They say that a paradigm shift is required if a freight forwarder aims to remain relevant, competitive and achieve greater efficiency..
The activity of Freight Forwarding has been around for many years and there has been a recent resurgence of the forwarder especially in the form of a digital freight forwarder. A freight forwarder is an important service provider not just for companies importing and exporting their cargo, but also for individuals whether they are looking to relocate their entire household … Read more here..