On August 8, 2022 the 6th China (Baiyun Beauty Valley) Cosmetics International Summit Forum held in Baiyun District, Guangzhou. Beautéville was invited to participate in this forum, and nearly 100 technology-based cosmetic enterprises in the industry gathered together, including the Chinese Academy of Sciences, the Chinese Academy of Engineering, including professional and technical experts on-site exchanges.
According to a report by a consultancy, the market size of cosmetics in China hit a new high of 455.3 billion yuan in 2021. Even so, the market consumption potential still has huge room for improvement. Many governments across the country are also actively developing their cosmetic economies, and competition and cooperation between regions is heating up.
At the forum, Baiyun District signed strategic cooperation agreements with Huzhou City, Zhejiang Province (Beautéville) and Taixing City, Jiangsu Province (China Pharmacy Valley), seeking to work together for a win-win situation, promoting cooperation and international exchange among government, industry, academia and research parties, strengthening cooperation and resource sharing among various cosmetic companies, and promoting the high-quality development of China's cosmetic industry.
After the summit forum, Li Xiaohong, Deputy Secretary of Party Committee and Mayor of Daixi, Wu Kun, Chairman of Huzhou Wuxing Economic Development Construction Investment Development Group Co. Ltd and other regions, seeking to work together for win-win results, promote multi-party cooperation and international exchanges among government, industry, education and research, strengthen cooperation and resource sharing among cosmetics enterprises, and promote high-quality development of China’s cosmetics industry.
Beautéville and Guangzhou Baiyun Meiwan are both representatives of China’s cosmetic industry clusters. In the context of the cooperation reached between Wuxing and Baiyun, the two places can take what they need through differentiated competition, integrate their advantages and work together to promote the healthy and sustainable high-quality development of China’s beauty industry.