Ty, founder and chairman of Metrobank, one of the country's largest banks; John Gokongwei, a mall magnate and owner of Cebu Pacific, the fastest-growing airline in the country; Tony Tan Caktiong, the founder of Jollibee; Andrew Tan, chairman of Megaworld Corp, a big real estate firm; and Emilio Yap, owner of the Manila Bulletin, a leading daily in Manila, and chairman of the Manila Hotel and other businesses.
Filipinos celebrated the Chinese New year yesterday by visiting Binondo to enjoy special performances, such as the Dragon dances and fireworks, and shopped Chinese foods and goods, such as the much-loved tikoy. The Chinese New Year is said to be the most important and longest holiday celebrated in China. The celebration begins on the first day of the lunar calendar, so it is also called Lunar New Year, and it is considered the beginning of spring, so it is also called Spring Festival.
Retail industry in China. Holiday season e-commerce in the United States. Holiday season in Canada. Christmas season in Europe. Go to report. Yihan Ma. Contact Get in touch with us. We are happy to help. Vianny Gutierrez-Cruz. Sales Manager — Contact United States. Ziyan Zhang. Customer Relations — Contact Asia. Kisara Mizuno.
Customer Success Manager — Contact Asia. Lodovica Biagi. Director of Operations — Contact Europe. This can lead to even longer production times as factories struggle to find new workers and ramp up on production orders. Since China is an economic giant in the global exporting industry, the effects of CNY can ripple around the world, especially for retailers and anyone else who relies on imports from China. Once you understand that China shuts down nearly everything for CNY and nothing, absolutely nothing will get out of China during that time, the better you can plan.
There is no way to avoid CNY — it happens every year albeit on different dates and it requires advanced planning to minimize interruptions on your end.
There are few things as valuable as establishing a strong relationship with your China supplier or manufacturing partner early on. Ask what measures they have in place to help their customers plan for CNY.
One of the advantages of working with a manufacturing partner is that they usually have years of experience building a trustworthy supplier network and can help ensure your product is shipped on time during the hectic holiday rush.
Another great advantage of providing a forecast to your supplier or manufacturing partner is that the factory will be able to see your demand after CNY so the factory can begin recruiting and training workers earlier, already knowing that a portion of their staff will not return.
That forecast you created for our last tip will come in handy for this advice as well. Steamship lines are notorious for taking advantage of the Chinese New Year situation when there is an abundance of shipments waiting to leave port before everything shuts down. Steamship lines often impose large freight rate increases during this time, as the demand to get on board a cargo ship is high, and those who can afford to pay the higher cost will leave the port on time.
Depending on how often a container gets rolled, this could mean days or weeks of delays. Here is where another trusted relationship with a freight forwarder or manufacturing partner will come in handy as many work with shipping lines that are more organized and better prepared to deal with the peak demand of CNY.
Consider working with a manufacturer who has operations in countries other than China. Some products are made of components from various countries which helps alleviate the pressure of one factory doing all the work. Checkout our calendar for the full New Year schedule! What's Your Chinese Zodiac Sign? Traditions Chinese New Year Taboos to Avoid Make sure your new year is filled with good fortune by avoiding these 10 new year taboos!
Traditions Ganbei! What to Drink and How to Toast. Traditions Chinese New Year Dishes. Traditions Chinese New Year Desserts.
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