Every year from October 1 to October 7 – in the middle of the shipping season – China celebrates a holiday commemorating the proclamation of the People’s Republic of China – Golden Week. It is the longest public holiday after the Chinese New Year, commemorating the proclamation of the People’s Republic of China at Tiananmen Square by Mao Tse-Tung on October 1, 1949. This day marked the beginning of a whole new period in Chinese history. A key element of the celebrations is the ceremony of raising the national flag in Tiananmen Square, followed by a spectacular military parade where the armed forces of the Chinese army are presented. In the evening, residents of many Chinese cities have the opportunity to watch spectacular fireworks displays. During the Golden Week there are also numerous music and dance performances as well as traditional calligraphy and painting shows.

During Golden Week, factories across the country close and production stops.
The same applies to seaports and transhipment terminals.

Given China’s enormous impact on global trade, a week-long holiday could cause disruptions to supply chain operations and, as a result, delays in shipping around the world. In the weeks leading up to China’s Golden Week, demand for Chinese exports surges as importers from the world’s largest exporter scramble to secure space on ships to ensure their imports are already out of China before production stops.

This is a period when the rates are visibly increasing – carriers are raising them in response to growing demand. The second wave of price increases comes after Golden Week – in preparation for shipping for Christmas and Chinese New Year. This is also a time when the industry is struggling with a shortage of containers due to the higher demand for Chinese exports compared to Chinese imports.

Our forwarding experts remind you to order forwarding services in advance, bearing in mind the holidays that take place in exporting countries.