Government News
Top beauty forum to unveil metaverse, latest tech for cosmetics 2022-10-24
Representatives of the world's top cosmetics companies took part in the first Oriental Beauty Valley International Cosmetics Conference in Shanghai in 2021.
A top global cosmetics forum will be held in Shanghai's southern outskirts early next month, featuring one of the world's first metaverse exhibition halls for cosmetics products and cutting-edge cosmetics technologies.
The 2022 Oriental Beauty Valley International Cosmetics Conference, to be held on November 8-10, is expected to help transform Shanghai into a global center for beauty and health products, the city government said on Monday.
Representatives of the world's top cosmetics companies from both home and abroad will attend the international conference at the Oriental Beauty Valley in suburban Fengxian District.
The business district known as the Oriental Beauty Valley is the first of its kind in Shanghai and includes a 20-square-kilometer industrial park which serves as the headquarters of domestic and international companies.
Leading Chinese cosmetics brands such as Jala, Pechoin, Chicmax and Marie Dalgar have manufacturing centers or marketing headquarters at the park, which aims to be on par with France's Cosmetic Valley in Eure-et-Loir and Loiret and Japan's Saito Life Science Park in Osaka.
A bird's-eye view of the Oriental Beauty Valley in suburban Fengxian District.
The valley has gathered more than one-third of Shanghai's cosmetics companies with an industrial scale of nearly 70 billion yuan (US$9.6 billion), Li Lei, deputy director of the Fengxian District government, revealed.
"The valley has become Shanghai's largest and most famous cosmetics gathering place, while the annual conference has become one of the top global forums in the cosmetics sector," Li said.
The metaverse exhibition hall for the valley will be launched at the conference, along with a national intellectual property rights protection center.
During the conference, forums and panel discussions will be held on the development strategies of global cosmetics brands. These will also gather suggestions on new technologies, low-carbon development, west-meet-east trends and digital economy in the cosmetics sector.
Despite the COVID-19 pandemic, retail sales of cosmetics products in Shanghai reached 175.4 billion yuan in 2021, a 15.7 percent increase on year and accounting for 10 percent of the city's total retail consumption, according to Liu Min, deputy director of the city's commission of commerce.
She said that the conference is expected to support Shanghai's strategy to become an "international consumption central city" as well as expand the "spillover effect" of the 5th China International Import Expo, which will be held on November 5-10.
Source: Shanghai Daily
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