Chinese Scammers Targeting Exporters

Related entries: General, Risk & Law, Trading

It has been reported by the British Consulate-General in Guangzhou, and by the China-Britain Business Council that a significant number of companies have been caught up in trade scams.

Newly set up Chinese companies contact foreign businesses with the bait of a large order. At the same time they make a request for the foreign party to visit and / or solicit additional payments. The unlucky (and overly trusting) foreign company gets very excited at the prospect of selling to Chinaand is taken hook, line and sinker.

This scam reinforces the importance of due diligence for sellers as well as buyers. A simple and quick company analysis would help to see whether the company, and its import requirement, is genuine.

China Business Services provides a range of due diligence services, including basic company analysis reports. See the Our Services section of the website for details.

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One Response to “Chinese Scammers Targeting Exporters”

  1. Archive » How to Scupper a Scammer| China Business Blog Says:

    […] A lot of people are facing the highs and lows of the China Buyer Scam (which I reported on last year). I have a steady stream of clients coming to me with great hopes of a big […]

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