From USA-ITA OFF THE CUFF for March 29, 2013
This April, USA-ITA Associate Member PwC will host Customs & Trade Roundtables for the Fashion/Apparel Sector on April 12th in Shanghai and April 25th in Hong Kong.
Being the world's second largest apparel market just behind the U.S., China's fashion apparel sector continues to experience robust growth and in recent years. We see the world's most famous apparel brands gradually expanding their footprints into the China market. Not only are these retailers seeking to open stores in China, e-commerce has also become an important channel. China is also expected to overtake the US in soon becoming the world's largest online retail market.
With so much going on in China, what does it take to stay compliant with various regulatory requirements, from customs clearance, commodity inspection, licensing, to post import reviews and audits? Non-compliance can result in additional assessments of customs duty, consumption tax, import VAT, financial penalties and other sanctions. Retailers can also take proactive action to exploit cost saving opportunities so as to truly benefit from all the upsides that China has to offer.
For more information, visit http://www.pwccn.com/home/eng/event_customs_trade_roundtable_apr2013_dup.html.
If you can’t make it but want to know more about this topic, we encourage you to revisit our January event with PwC Shanghai Partner Damon Paling on retailing in China.