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Data from AdMaster showed that the number of cosmetics companies that have paid for KOLs in promoting their products surged by 81 percent year-on-year in 2018. The number is even higher for food companies at 92 percent.
Data from industry information network Chyxx showed that in 2019, China's TCM industry sales were estimated to have reached 537.6 billion yuan (.9 billion). The market is projected to reach 580.6 billion yuan by this year-end. Its annual compound growth rate of 8.2 percent is higher than that of GDP growth rate.
Data from the company showed that the platform has gained momentum in the past year. Its registered users grew from around 1,000 a year ago to over 10,000 by August this year. Users come from 73 countries and regions including the United States, South Korea and Spain.
Deepak said Indian products-especially pharmaceuticals-are seeing better market access in China, and the country's marine products, tea, coffee, spices, cotton and fruit, recorded a major jump in trade with China.
Deepening VAT or value-added tax reform is a focus of this year's tax and fee cut and the lowered VAT rates starting April 1 would effectively reduce the real burden on market entities and help further develop the Chinese economy, said Li Jun, partner of China indirect tax services at PWC.
来源：资阳报