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Happy Chinese New Year of the Ox!

Today, on February 12, in China, the New Year begins, which falls on the sign of the Bull. Astrologers predict a fruitful and successful year, and economists agree with them. So what can businesses expect in the coming year?

This time, the Year of the Ox will begin on February 12 and will last until January 30, 2022. Lucky colours in the year should be: green, white and yellow, but blue, on the contrary, promises failure. The lucky numbers are 1 and 4, as well as their various combinations.

  • The ox is considered as a hardworking animal, the desire to move forward and great patience help the bull to achieve its goals step by step. Therefore, the hard work and perseverance of the ox, combined with the wisdom of the zodiac rat, will help to achieve the goals set in 2021.
  • Changes in consumer behaviour give a chance to work in new areas and projects. Find a niche in which you have not tried yourself yet, and the Ox will support this initiative - the main thing is to work hard.
  • Absolutely all observers are confident that the Chinese economy will show explosive growth in the Year of the Ox which means that it is time to start or resume business with China.

What Happens to Business Activity During Chinese New Year?

Traditionally, the Chinese try to spend the New Year holidays together with their families. This, in turn, leads to a "dead" season and disruptions in the work of Chinese factories and the supply of goods from China. Like many of our compatriots, the Chinese try to plan their holidays in advance and take additional vacations before and after the New Year holidays. This year, due to the coronavirus epidemic, this situation is aggravated by the reluctance of most Chinese to travel home, and many of them work, study and live away from their homes, at times of maximum traffic load.

Therefore, this year, since the beginning of February, many Chinese suppliers are greatly reducing their activity. Most Chinese companies will be closed from 8 to 16 February. Approximately from February 22, the main business activity of China will begin to "revive".

If you are already working with Chinese suppliers, remember that during the new year (spring holiday) there are a lot of delays in deliveries, so it is better not to place your orders immediately before or immediately after the holidays.