{"id":9395,"date":"2022-02-02T07:30:59","date_gmt":"2022-02-02T07:30:59","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=9395"},"modified":"2025-04-23T09:45:18","modified_gmt":"2025-04-23T09:45:18","slug":"tips-for-doing-business-around-the-lny-period","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/tips-for-doing-business-around-the-lny-period\/","title":{"rendered":"Tips for doing business during China’s Lunar New Year"},"content":{"rendered":"

The 2022 Spring Festival holiday and unpredictable Covid-19 flareups mean that businesses should keep track of the fast-changing developments on the ground and plan for possible disruptions. Here’s what to be aware of over the period if you’re new to doing business in China<\/h2>\n

Lunar New Year, also known as the Spring Festival, is the most anticipated and celebrated Chinese holiday, this year arriving on 1 February and ushering in the Year of the Tiger. But for many businesses, it can be a disruptive time that requires advance planning and strategy. It is important to be aware that the effects of LNY will be felt long before 31 January, as firms start to wind down their business a week or so prior to the first day of the festival.<\/p>\n

Here we list four key considerations for business in China during the LNY period.<\/p>\n

\"launchpad<\/a><\/p>\n

Prepare inventory stock<\/h4>\n

In order to ensure that business operations are not adversely affected, inventory managers should obtain a detailed schedule of opening and closing dates well in advance of the LNY and order enough stock to see their business through the holiday period. Foreign companies should also bear in mind that the LNY public holiday is one of the year\u2019s biggest shopping festivals, comparable to the Christmas season in many overseas markets.<\/p>\n

Riccardo Benussi, Head of European Business Development at Dezan Shira & Associates\u2019 Munich-Milan Office, comments that, \u201cIn the days and weeks leading up to the New Year, Chinese shoppers will rush to online and offline points of sale to purchase gifts for loved ones as well as delicious foods and drinks to greet guests at their homes.\u201d<\/p>\n

In many consumer goods industries, businesses achieve their highest sales figures around LNY. \u201cForeign companies should prepare for a surge in demand at this time of the year, and appropriately stock up their China warehouses to ensure the rise in consumption is met in a timely and orderly fashion,\u201d Benussi explains.<\/p>\n