In recent years, with the rapid economic development in China, the cosmetics industry has also maintained rapid growth. According to Euromonitor data, skincare products reached retail sales of RMB 169.1 billion (RMB, the same below) in 2016, and color cosmetics were RMB 28.3 billion. At the same time, the year-on-year growth rate of skin care products was 5%, and makeup was 12%. According to statistics from the National Bureau of Statistics, the retail sales of cosmetics above designated size in recent years are as follows:
Source: National Bureau of Statistics of China.