Figures from the National Bureau of Statistics of China show that in September the national retail market for cosmetics grew by 13.7 per cent to reach CNY65.2bn (€637m), while in the nine months ending in September the figure rose 17.6 per cent to CNY 528bn.

The figures compare favourably with the country’s GDP growth, which was up 7.7 per cent in the first nine months of the year, to reach CNY 21.78 trillion, showing that growth rose 0.6 per cent in the third quarter, compared to the first six months of the year.

The cosmetics industry has long been tipped as an area of significant potential, and in September its growth was only outpaced by four other retail categories: car sales, which rose 44.5 per cent; Chinese medicines, which rose 23.6 per cent; furniture, which rose 34 per cent and apparel, which grew by 19.1 per cent.

Cosmetics sales outpace retail growth

Overall sales of consumer retail goods in China rose by 15.1 per cent during the first nine months of the year to reach CNY 8.96 trillion.

Likewise, in line with the upward trend in both the country's economic growth and retail sales, the bureau pointed out that the decreasing price trend witnessed in the first six months of the year has now been reversed.

Overall the consumer price index decreased by 1.1 per cent in the first nine months of the year, but breaking this figure down, prices for health and personal care products kicked the trend, rising by 1.0 per cent during the period.