Beauty Sector Benefits Chinese Economy
CHINA: Between 1983 and 2004, the sales volume of China’s beauty businesses increased 260 times, according to the country’s first annual report on the beauty sector, recently released by four Chinese economists—He Fan, Ba Shusong, Zhong Wei and Zhao Xiao. With 15% annual growth, the beauty sector is turning into another big money maker after the boom in real estate, auto, electronics and tourism sectors. Revenue for the beauty sector is expected to double in the next five years.
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