With the reform and open-up, especially after China joined WTO, China’s high economic growth has spurred the rapidly rising demand on consumption of cosmetics.
It is forecast that the consumption will increase quickly in the next five years with the quick development of Chinese economy and the improvement of people’s living conditions. The demand for cosmetics reached 37.9 billion yuan in 2001.
The total market demand for cosmetics is projected to reach 48.8 billion yuan by 2006, increasing 5.2% per annum. In 2001, China’s total output of cosmetics reached 38.98 billion yuan. Despite new improvements in construction and capacity expansion, China’s cosmetics demand will continue to outstrip supply as to some kinds of cosmetics.
In 2001, China imported 368.2 million yuan, which mainly are the high quality products. At the same time, China also exported 1.4 billion yuan. With the research and development, China will continue to increase its exports.
