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China:Chinese women drive cosmetics industry to top in Asia |
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2005-4-12
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Cosmetics makers say Chinese women have helped the country top the cosmetic industry in Asia.
Burgeoning beauty - related industries throughout Asia are nowhere near China in terms of sales, where 30 plus percent growth has been observed.
With annual growth rate in excess of 9 percent, China''s market appetite for beauty-related products is “stunning.” The industry stands just behind real estate, automobiles, travel and electronic forms of communication, as “hot industry.”
Figures released by China Chamber of Commerce said beauty-related sales, which include services offered at beauty salons, jumped from 134.3 billion yuan (1.75 trillion yen) to 220 billion yuan (2.86 trillion yen) in the two years up to 2004.
In 2003, cosmetics sales alone accounted for 75 billion yuan (975 billion yen), says the China Association of Fragrance, Flavor and Cosmetic Industry. |
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