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Fengxian unveils investment promotion bureau for health, beauty industry
02.08.2018

    Fengxian unveils investment promotion bureau for health, beauty industry

    The citys first district-level investment promotion bureau was established in south Shanghais Fengxian District yesterday to attract more enterprises to its "beauty and health" industry base.

    The bureau will integrate all services that new companies need to register and base themselves in the district to further the development of the areas advanced manufacturing and cultural creativity industries, said district Director Hua Yuan.

    Shanghai aims to create an "Oriental Beauty Valley" that will develop and promote local cosmetic brands globally and help turn the city into Asias largest health and beauty industry base.

    The core site in Fengxian is mainly used to research, design, manufacture and test products. The valley aims to be on par with Frances Cosmetic Valley in Ile-de-France and Japans Saito Life Science Park in northern Osaka.

    The district government signed contracts for 12 new projects yesterday with enterprises and research institutes. They included a bonded logistic center as well as an international and European design center for cosmetics and pharmaceutical products. Many major cosmetics and pharmaceutical giants such as Nu Skin and Guolin Technology also announced they will expand their current sites in the district.

    The government acknowledged 100 outstanding companies based in the district that have contributed the most to the districts revenues at an award ceremony recently.

    The outskirt district set a new record in 2017, achieving over 40 billion yuan (US$6.4 billion) in fiscal revenue and ranking the top among all local districts.

    A full industry chain of cosmetic and health products valued at 100 billion yuan will be created by 2025 in Fengxians beauty valley, according to the Shanghai Commission of Economy and Informatization.