Has any world big cosmetic name not set their feet in China yet? Probably not. China market is simply too big and profitable to miss. In 2019, the cosmetic market grew by almost 13 percent (equivalent to RMB 40 billion or approx. US$5.72 billion), to reach RMB 299 billion (US$42.8 billion), according to data published by the National Bureau of Statistics.…
On June 29, 2020, China officially published its long-awaited regulation on cosmetic industry, titled as “Regulation on Supervision and Administration of Cosmetics” (hereinafter “New Regulation“).
It is kind of a surprise to see how many changes have been made in contrast to the draft that was said to be passed at the meeting of…
Cosmetics are big business in China. There are quite a few aspiring fortune stories in cosmetic industry. One is about a celebrity couple launching a new facial masks business that garnered billions of RMB in a couple of years. Recently, a young man that wears makeups makes a big fame on online video platforms among girls and women.
Cosmetics are big businesses.
With China society getting more and more affluent, cosmetics consumption has been on steady rise over years, and all major brands in the worlds are now in China market. However, China’s regulation on cosmetics industry has been lagging far behind reality, indeed a drag on this industrial innovation and progress. Most …