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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.

Consumer goods prices also grew faster, with a 0.9 percent increase year-on-year in April.

Consumers in first－and second-tier cities show a stronger willingness to buy domestic brands, which is buoyed by cultural self-confidence.

Continental said although semiconductor manufacturers have already responded to the unexpected demand with capacity expansions, the required additional volumes will only be available in six to nine months due to the usual lead times in the semiconductor industry.

Contact the writers at mengfanbin@chinadaily.com.cn and yuanhui@chinadaily.com.cn