The first Zhejiang Beauty and Lifestyle Festival kicked off recently in Hangzhou, the provincial capital, with over a thousand trendy beauty products exhibited by dozens of companies.

In the first quarter of this year, the beauty industry in Zhejiang experienced robust growth, with retail sales of cosmetics products by designated trading entities reaching 10.4 billion yuan ($1.44 billion), a year-on-year increase of 17.0 percent, surpassing the province's overall social consumer goods retail growth rate by 11.1 percentage points.

The first Zhejiang Beauty and Lifestyle Festival is held on Hangzhou's Hubei Pedestrian Street in East China's Zhejiang province.  [Photo/Tide News]

As of the end of 2023, Zhejiang was home to 634 cosmetics production enterprises, with the entire cosmetics industrial chain generating approximately 110 billion yuan in output value, accounting for 25.4 percent of the nation's total cosmetics exports and ranking first in the country.

Yiwu in Zhejiang currently boasts 169 cosmetics production enterprises and over 300 cosmetics auxiliary material and supporting enterprises.  Last year, the cosmetics industry in the city achieved an output value exceeding 7 billion yuan, with makeup products accounting for one-third of the nation's total exports.