U.S. cosmetic giant Estee Lauder Companies is set to reduce the price of some of its most popular products in China from July 1.

It comes after the Chinese government lowered import tariffs to stimulate domestic consumption.

The price cut will cover all skincare and make-up brands owned by the company, including Estee Lauder, Clinique, La Mer, Origins, MAC, Bobbi Brown and Lab Series.

The reduction in price ranges from 11 percent on a best-selling La Mer facial cream to 23 percent on an Origins essence.

In May, French cosmetic company the L'Oreal Group announced that it will reduce the price of most of its imported products.

Analysts say the move is considered to be a countermeasure to the slowdown in the Chinese market.