The latest move could enable overseas brands to gain easier access to the market, while boosting competition among local brands
China is to cut import tariffs on cosmetics from 8.4% to 2.9%, under a new raft of measures that also covers clothing and fitness products.
The move, which comes into effect from 1 July, could help foreign brands to expand beyond their current city base, but will also push local players to become more competitive.
“China’s cosmetics tariff reduction will enable new entrants to flow into China’s market,” Yiting Liu, Research Analyst at Euromonitor,
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