Businesses and factories are affected for a number of weeks prior to and following Chinese New Year so it’s important for you to know what to expect and how the holiday will affect your business.
This blog will explain what CNY is and provide you with information about what preparations you need to be taking during this time.
Overview of Chinese New Year
It is traditionally the case that Chinese workers will leave work and travel back home to celebrate the holiday. Although CNY only officially lasts for one week, offices and factories close roughly 10 days before CNY begins and can last for roughly 3 working weeks.
It is also important to bear in mind that the exact date of Chinese New Year changes and will not always be January 25th. Always be aware of when Chinese New Year will occur each year and plan accordingly.
Take home points
-Chinese New Year 2020 officially begins January 25th.
-Your orders need to be shipped well before CNY as shipping and delivery stop during this period.
-Forecast the services and goods you will require for the first few months of 2020 because CNY leaves lasting effects on productivity.
-All banks in Mainland China and Hong Kong close during the days surrounding CNY. Communicate with the C2W team to sort out the best way to deal with transactions.
Other things to consider
Inspection, monitor and communication
The effects of long distance working relationships can be felt during this period if you do not have a strong relationship and communication with your Chinese providers. CNY causes a lot of pressure on factories and workers. The increased demand can result in a fall in quality in facilities that are less equipped to deal with such demands.
If you are not working with C2W or a trusted manufacturer, then we strongly advise increasing inspections, monitoring and communications during the months leading up to and after CNY.
Giving red envelopes is the local practice in China. They are bonuses given to employees in January around CNY. Get in touch with us to discuss this further.
There are a number of other holidays in China that effect business. Make sure you are also aware of these. One key example of this is Golden Week Holiday, October 1st – October 7th.
How can China 2 West help?
-The diversity of our team and the wide range of languages spoken within our offices can remove any confused and rushed communications with your service providers.
-Being based in China for the past 14 years means we can offer you the advantage of no time zone differences. We can work with your Chinese providers directly and avoid and delays to productivity.
Did you know that C2W also have regional offices outside of China? This includes Vietnam, Thailand and the US. These might be good alternatives if you’re looking to do business during Chinese New Year.
However, do be aware of Tet, the Lunar New Year holiday in Vietnam. Tet is also on the 25th of January 2020 but business and factories only close for around 1 week. The date for celebrating Tet also differs from year to year.
2020: Year of the Rat
2020 marks the year of the rat, a symbol of wealth. C2w wishes you a lucrative Chinese New Year!