MOFCOM surveys show strong consumer appetite for cars, food and cosmetics
Chinese consumer demand for foreign foodstuff, cosmetics and automobiles is strong, two surveys by China's commerce ministry showed on Monday, and local distributors plan to ramp up orders from overseas suppliers in the next 12 months.
Nearly one-third of the around 1,400 consumers surveyed said they were planning to buy more imported merchandise over the next six months, especially cosmetics, watches, glasses, baby products, passenger cars and jewelry, the Ministry of Commerce (MOFCOM) said.
Foreign passenger cars are in high demand, the ministry said. More than 30 percent of the consumers who responded to the question of whether they would buy more foreign autos said they were keen to in the next half year, particularly SUVs and new-energy vehicles.
China plans to cut import tariffs for automobiles and car parts on July 1, opening up greater access to the world's largest auto market.
China is looking to boost domestic consumption amid signs of slowing momentum in the economy. The survey results would also be welcome news to global brands looking to deepen their presence in China.
In the survey, 38 percent of consumers who responded to the question on cosmetic purchases said they were planning to buy more foreign brands over the next six months, while three quarters of them said the domestic skin care market was not meeting current demand.
In December, China cut import taxes on almost 200 consumer products including food, health supplements, pharmaceuticals, garments and recreational goods to 7.7 percent on average from 17.3 percent. Meanwhile, import duties on certain cosmetics were halved to 5 percent.
The second survey of a thousand distribution companies showed "relatively strong appetite" in boosting imports, MOFCOM said.
More than 10 percent of firms surveyed said they will import more wines, fruits, beers, heath supplements, fragrances, skin care and makeup over the next year.
They were also keen to boost imports of new-energy cars, SUVs and sedans.
