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China’s cosmetic imports plunge amid tighter regulation

The General Administration of Customs has released the import and export data for key commodities from January to August 2024. The data shows that the total volume of imported cosmetics in August declined by 9.2% YoY to 27,450.2 tons, and the total value dropped by 9.8% to 9.03 billion RMB ($1.25 billion), marking the fourth consecutive decline since May. The main countries of import include traditional cosmetic powerhouses such as the UK, the US, France, Japan, and South Korea. The decline is attributed to recent tightening of import policies by the Chinese government, which has increased the thresholds for importing cosmetics.

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