Enterprises sign up to join Fengxian's beauty valley
September 29, 2018
Fengxian District plans to convert its low-efficient farm and industrial land into 100 sub-parks in the Oriental Beauty Valley that aims to turn the city into Asia's largest health and beauty industry center.
The sub-parks, or small-scale industrial parks across the southern district, will mainly attract companies in the cosmetics and health industries with preferential policies on land planning, plot ratio and height limit, the district government said on Friday.
Twenty companies and commercial entities signed contracts to base or develop projects in Fengxian on Friday with total investment of 20.7 billion yuan (US$3 billion). They include China’s rolling-stock maker CRRC Corp, the world’s largest railway equipment supplier, Dongcheng pharmaceutical group, Noah medical robots and Japanese retail company Muji (Shanghai).
The district government aims to support 100 leading enterprises, 100 growing companies and 100 startup firms to make the beauty valley on par with France's Cosmetic Valley in Ile-de-France and Japan's Saito Life Science Park in northern Osaka.
Shanghai aims to create the Oriental Beauty Valley that will develop and promote local cosmetic brands globally. The core site in Fengxian is mainly used for research, design, manufacturing and test of products.
The district set a new record in 2017, achieving over 40 billion yuan in fiscal revenue and ranking top among all local districts. Its fiscal revenue reached 39.3 billion yuan between January and August this year, a nearly 30 percent increase on year, Gu Yi, Fengxian's deputy director, said.
A full industry chain of cosmetic and health products valued at 100 billion yuan will be created by 2025 in Fengxian's beauty valley, according to the Shanghai Commission of Economy and Informatization.