On April 16, the 2023 China International Cooperation Forum on Cosmetics kicked off in Changping District, Beijing. During the forum, the RCEP International Cooperation and Exchange Platform on Cosmetics, jointly initiated by Changping District People's Government of Beijing Municipality, China Chamber of Commerce for Import and Export of Medicines and Health Products, China Health Care Association, ASEAN Cosmetics Association, and other cosmetics associations in Malaysia, Singapore, South Korea and many other countries, was launched. All parties are committed to working together to promote international development, cooperation, and sharing and create a new platform for the high-quality development of the cosmetics industry.

On November 15, 2020, the Regional Comprehensive Economic Partnership (RCEP) Agreement was officially signed, marking the opening of a free trade zone with the largest population, the biggest economic and trade scale, and the greatest development potential in the world. It is estimated that the countries and regions covered by the RCEP agreement account for more than 40 percent of the global cosmetics market share. Compared to Europe and two Americas, where the markets are becoming saturated, those covered by the RCEP agreement have more potential for international cooperation on cosmetics with the cosmetics industry in China.

After the launch of the RCEP International Cooperation and Exchange Platform on Cosmetics, its members will utilize the platform to share information on national and regional cosmetics policies and regulations as well as the information regarding market supervision, conduct thematic meetings and training sessions, and exchange capitals under the RCEP framework. They will also realize industrial integration and international exchanges among countries through investments, joint stock, and acquisitions. All parties will strengthen exchanges and cooperation in the cosmetics industry under the RCEP framework through exhibitions, conferences, and visits. They will publish an annual RCEP Cosmetics Industry Report, jointly develop technologies for cosmetics raw material supply under the RCEP framework, and use their respective resource-related advantages for mutual benefits and win-win results.

In addition, the RCEP Cosmetics Market Research Report - ASEAN was released at the forum. The report provides a comprehensive and objective overview of the ASEAN cosmetics market and the trade between China and ASEAN countries in cosmetics through detailed analysis of a large amount of macroeconomic and industrial data. It offers a comprehensive and objective overview of the regional cosmetics industry and serves as a scientific and reasonable strategic guideline for Chinese cosmetics companies interested in exploring the ASEAN market and helps the Chinese cosmetics industry to expand globally.

Zhi Xianwei, District Mayor of Changping District and Director of the Management Committee of Future Science City, noted that Changping, as the only cluster of beauty and health industries in Beijing, as stipulated by the 14th Five-Year Plan of Beijing Municipality, is now developing the "beauty economy" in multiple fields with Xiaotangshan Intelligent Beauty Park as its core. Now, with the release of the Several Measures for Supporting the High-quality Development of Beauty and Health Industries (also known as the Ten Articles for Beauty Economy), the first beauty and health industrial innovation research institute and the first live-streaming base featuring cosmetics have been established. High-quality beauty and health enterprises, such as Imeik and Meitu Moyan, have settled in Changping. In 2022, the local large-scale beauty and health enterprises registered a total revenue of RMB 8.67 billion, representing a year-on-year increase of 26 percent. Xiaotangshan Intelligent Beauty Park Phase I has successfully entered the market with 157 mu (10.47 hectares) of land, and the agglomeration effect of the industry has gradually emerged.

(Source: Beijing Daily)