Vaping: Health Risks Hidden Behind Industry Prosperity

Searching for "electronic cigarettes" on Taobao yields as many as 100 pages of results. "The taste is pure, compact, convenient, and won't be disliked by those around you." Fewer and fewer consumers are fond of it.

"Electronic cigarette regulation must be strictly enforced. According to the work arrangements of the National Tobacco Control Inter-Ministerial Coordination Group, the National Health and Health Commission is conducting research with relevant departments and plans to regulate electronic cigarettes through legislation," said Mao Qun'an, Director of the Office of the National Health Action Promotion Committee, and Director of the Planning, Development, and Information Technology Department of the National Health and Health Commission, at a recent press conference.

In recent years, the domestic electronic cigarette industry has developed rapidly and has become the "darling" of the capital market: billions of dollars have flowed into the electronic cigarette industry, becoming a new venture capital hotspot, and more electronic cigarette brands are undergoing angel rounds and Series A financing. At the Shenzhen International Electronic Cigarette Industry Expo held in April this year, as many as 1,500 electronic cigarette companies participated. Organizers expect the situation to be even more severe next year, with 2,500 companies from over 80 countries and regions participating in the exhibition.

Data released by the China Business Research Institute shows that the scale of the Chinese electronic cigarette market has surged from $61 million in 2012 to $744 million in 2018. Especially in 2015-2016, it showed a "vertical growth" trend, expanding from $121 million to $505 million. The production of electronic cigarettes also increased from about 600 million in 2014 to about 2.2 billion in 2018. Electronic cigarette manufacturer McQuay achieved revenue of 1.176 billion yuan and a net profit of 198 million yuan in 2018.

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