Sourcing in China – Facemasks Against COVID-19

It is better than its reputation: How the Corporate Social Credit System (CSCS) can be useful for a foreign company wanting to procure protective masks in China, such as those now needed by the million worldwide.

As of 27 April 2020, masks will be needed, for example, by over 80 million Germans to comply with their obligation to wear one in public places such as supermarkets. According to Chinese government statistics, about 120 million masks are produced daily in the republic. In 2020 alone, almost 18,000 companies have been newly registered who are allowed to produce and sell masks for medical and community use.

But how does a foreign company looking to source masks or other medical equipment in China make sure it finds the right partner among the hundreds of thousands of companies producing what it needs? This is exactly where the newly established CSCS is useful. China’s CSCS includes all companies registered in China and it sanctions those who do not comply with relevant laws and regulations.

In order to make sure a partner is trustworthy, has the licenses they claim to have and the means to actually export the ordered equipment, companies must first check their potential partners. The easiest way is through official government channels. The Ecovis team is here to help companies interpret the information given.

If together we find the potential partner reliable enough, companies can then take the next step and place an order – but only then! In the end, this can save companies a lot of hassle, costs and other resources.

For further information please contact:

Richard Hoffmann, Lawyer, Partner, Ecovis in Heidelberg, Germany

Über ECOVIS AG Steuerberatungsgesellschaft

Ecovis is a leading global consulting firm with its origins in Continental Europe. It has almost 8,500 people operating in nearly 80 countries. Its consulting focus and core competencies lie in the areas of tax consultation, accounting, auditing and legal advice.

The particular strength of Ecovis is the combination of personal advice at a local level with the general expertise of an international and interdisciplinary network of professionals. Every Ecovis office can rely on qualified specialists in the back offices as well as on the specific industrial or national know-how of all the Ecovis experts worldwide. This diversified expertise provides clients with effective support, especially in the fields of international transactions and investments – from preparation in the client’s home country to support in the target country.

In its consulting work Ecovis concentrates mainly on mid-sized firms. Both nationally and internationally, its one-stop-shop concept ensures all-round support in legal, fiscal, managerial and administrative issues.

The name Ecovis, a combination of the terms economy and vision, expresses both its international character and its focus on the future and growth.

Firmenkontakt und Herausgeber der Meldung:

ECOVIS AG Steuerberatungsgesellschaft
Ernst-Reuter-Platz 10
10587 Berlin
Telefon: +49 (30) 310008555
Telefax: +49 (30) 310008556

Gudrun Bergdolt
ECOVIS AG Steuerberatungsgesellschaft*
Telefon: +49 (89) 5898-266
Für die oben stehende Pressemitteilung ist allein der jeweils angegebene Herausgeber (siehe Firmenkontakt oben) verantwortlich. Dieser ist in der Regel auch Urheber des Pressetextes, sowie der angehängten Bild-, Ton-, Video-, Medien- und Informationsmaterialien. Die United News Network GmbH übernimmt keine Haftung für die Korrektheit oder Vollständigkeit der dargestellten Meldung. Auch bei Übertragungsfehlern oder anderen Störungen haftet sie nur im Fall von Vorsatz oder grober Fahrlässigkeit. Die Nutzung von hier archivierten Informationen zur Eigeninformation und redaktionellen Weiterverarbeitung ist in der Regel kostenfrei. Bitte klären Sie vor einer Weiterverwendung urheberrechtliche Fragen mit dem angegebenen Herausgeber. Eine systematische Speicherung dieser Daten sowie die Verwendung auch von Teilen dieses Datenbankwerks sind nur mit schriftlicher Genehmigung durch die United News Network GmbH gestattet.