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Consultancy Euromonitor International had estimated the total market for male grooming consumables in China would reach 14.2 billion yuan in 2018. The firm said that the market grew at a compound annual growth rate of 6.5 percent over the past five years, with growth of 6.9 percent last year.
Consumers visiting brick-and-mortar pharmacies or convenience stores in metropolises, including Beijing, Shanghai and Wuhan, the city in Hubei province where the virus first emerged, have also complained about straining supplies of face masks.
Consumer loans in China are projected to more than double over the next five years to more than 50 trillion yuan, according to market data consultancy Mintel.
Creating stability, legislation is national govt's fundamental duty, experts say
Core copyright industries, which refer to sectors that attribute all of their output value to copyright such as publishing, recording, film, TV broadcasting and software, reached 3.8 trillion yuan in 2017, accounting for 4.61 percent of the GDP, said the report.