HAIKOU, April 23. /TASS/. The volume of cosmetics imported to the free trade port in the southern Chinese province of Hainan amounted to 5.1 billion yuan ($747 million) in the first quarter, which is 37.4% higher than the same period last year, the Haikou Customs Office stated.
In value terms, cosmetics imports through duty-free channels from January to March increased by 26.2% year-over-year to 3.4 billion yuan ($498 million). At the 6th China International Consumer Products Expo (CICPE) held in April, customs cleared a shipment of French creams using simplified procedures, the ChinaNews outlet reported. Chinese labeling was not required for foreign goods presented at the exhibition and approved for limited sale, nor were random inspections.
Government support for duty-free trade policies makes cosmetics one of the key market segments in Hainan. According to Estée Lauder representative Matthew Growdon, the brand is expanding its retail network on the island, and a new logistics center will begin operations in the second quarter. L’Oréal also plans to expand its presence in the region by attracting new customers through brand promotion events and partnership programs.