Compared with other industries, the daily chemical industry in 2016 has relatively few new policies, but it is very affordable for consumers.

Korean cosmetics tax reduction for the second time

Korean cosmetics that quickly gain a foothold in the Chinese market will be cheaper. On December 20, 2015, the China-South Korea FTA came into force and XX tax reductions; on January 1, 2016, the tax will be reduced twice. In the next 20 years, tariffs on products involving 91% of China's tax items and 92% of South Korea's taxes will be reduced to zero.

Among them, Z is a shampoo bath product and individual cosmetics and skin care products that are popular among Haitao people. The tax reduction rate is as high as 20%-35% within five years; the tariffs on toothpaste and other oral cleaning products will drop the current 10% tariff within ten years. Zero; 10% tariff on electronic products such as beauty instruments will be cancelled within ten years.

Comments: Today, China is a Korean importer of cosmetics XX. According to data released by the Korea International Trade Association in September 2015, from January to July 2015, the scale of Chinese imports of Korean cosmetics far exceeded that of the previous year, while the share of Korean cosmetics in the Chinese market reached 22.1%, second only to France. As China's import tariffs on Korean cosmetics are gradually reduced or even eliminated, the price advantage and market share of Korean cosmetics in the Chinese market will further increase. From the perspective of market structure changes, due to more price advantages, the Korean brand and the European and American brands of the popular makeup brand, as well as competition with Chinese local makeup brands will be more intense. At the same time, however, although the Korean brand is now taking advantage of the marketing advantages of the Korean Wave, it also needs more localized marketing to deepen the Chinese market.