SHANGHAI aims to create an “Oriental Beauty Valley” that will develop and promote local cosmetics brands globally and help turn the city into Asia’s largest “beauty and health” industry base, the city’s economic commission said yesterday.
Research and development on cosmetics and perfumes, healthcare and bio-pharmaceutical products as well as medical instruments and sports equipment will be the focus of the world’s top pharmaceutical and cosmetics brands attracted to set up base in the valley, said Chen Yuehua, deputy director with the Shanghai Commission of Economy and Informatization.
The core site is mainly based in South Shanghai’s Fengxian District.
A full industry chain on cosmetic and health products valued at 100 billion yuan (US$15.1 billion) will be created by 2025 in Fengxian’s beauty valley, Chen said.
The valley has drawn 73 cosmetics companies from home and abroad and they generate over 40 percent of the total output value of the city’s cosmetics industry, said Xu Jianlong, director with the district’s economic commission.