The Algorithmic Elegance: How Shanghai's Digital Divas Are Reshaping China's Beauty Economy I. The Influencer Ecosystem• Top 100 Shanghai-based beauty KOLs: ¥8.7B ($1.2B) combined valuation• Average engagement rate: 14.3% (vs 7.8% global average)• Brand partnership growth: 62% YoY• Livestream conversion rates: 28% (highest in Asi