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China Beauty Market

China is the largest and fastest growing market in the international beauty and hair care business today with total consumer spending exceeding US$ 5 bn last year.

According to the latest developments the Chinese cosmetics market will grow at the rate of 10 % in 2006 and this will continue for the next 5 to 10 years.

China’s Economy

China’s trade surplus with the rest of world more than tripled to US$ 102 bn in 2005.

China’s biggest trading partner in 2005 was the European Union, with bilateral trade rising by 22.6% to US$ 217.3 bn during the year. The US was China’s second-biggest trading partner, at US$ 211.6 bn. China has seen its economy expand well over 9% annually for several years in a row.

Enormous potential for foreign Products

Brand-conscious and well informed Chinese consumers increasingly demand high quality international products.

For 12 out of the past 14 years, the growth rate of cosmetic sales in China has exceeded the growth rate of the overall economy, with the highest annual growth rate reaching 63%. International cosmetics giants such as L’Oréal, Proctor & Gamble, Estée Lauder and Shiseido have forseen this potential market and established their footholds in the mainland.

Shanghai Region – The centre of the manufacturing industry

Almost half of China’s leading manufacturers are located in the Greater Shanghai area. Export-oriented companies aim to expand their worldwide business activities in terms of sourcing and OEM cooperation.

Thanks to the increasing production regions and quality standards in the recent years, Chinese manufacturers have become irreplaceable suppliers for international distributors and buyers.

Distribution Channels

In 2005, 80% of C&T sales are through hypermarkets and mass merchandisers. This channel is quickly losing ground to specialty stores.

Specialty chains are expected to grab a bigger piece of the business due to several market drivers. More Chinese women are interested in enhancing their appearance and now have the purchasing power to buy more and more beauty products. In addition, many retail stores have exceptional customer service behind the counter, which helps to augment sales.

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