Huangpu rolls out 10 measures to boost cosmetic industry

Guangzhou's Huangpu district rolled out 10 measures to propel the high-quality development of the cosmetic industry at the second Huangpu International Cosmetic Technology and Innovation Conference on Nov 25.

The new policies will give a comprehensive boost to local cosmetic industry with all-round support in manufacturing boutique products, fostering world-renowned brands, increasing core competitiveness and influence, and establishing high-end industrial carriers and major public service platforms.

More than 400 academicians, experts, scholars, as well as representatives from industrial associations and enterprises attend the second Huangpu International Cosmetic Technology and Innovation Conference on Nov 25.

A maximum subsidy of 5 million yuan ($782,500) will be granted to a single enterprise that has obtained the registration certificate of new raw materials for cosmetic products or new functions of cosmetic products.

Enterprises whose annual operating revenue exceeds 50 billion yuan for the first time will receive a one-time reward of 20 million yuan. The brand promotion of cosmetic enterprises will be given a maximum subsidy of 1 million yuan.

Eligible cosmetic industrial parks will be granted a maximum annual subsidy of 1 million yuan. Major innovation service platforms may receive a subsidy of up to 50 million yuan. Fundamental public service and resource sharing platforms that offer efficacy and safety assessment, as well as packaging design services will be granted up to 2 million yuan in subsidies.

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