Japanese firms drawn to beauty valley
Print Edition
Top Japanese cosmetics firms are eager to cooperate with the Oriental Beauty Valley in Shanghai鈥檚 southern outskirts.
Over 300 companies from home and abroad, many of them from Japan, participated in an investment promotion meeting hosted by the Shanghai Hangzhou Bay Development Zone in Fengxian District, where the valley stands in the core area.
About 50 company officials attended the meeting on Tuesday while over 100,000 watched a livestream of the event.
An increasing number of Japanese firms and organizations are showing interest in the valley amid the global fight against the coronavirus pandemic and due to the optimized business environment of Fengxian, said Wang Gengshen, deputy director of the district鈥檚 economic commission.
Companies based in the valley made great contributions to the fight against COVID-19 during the height of the pandemic, according to Fengxian鈥檚 investment promotion office.
Local firm Biogerm, for instance, was one of the first producers of the coronavirus detection reagent. An injection developed by Kai Bao Pharmaceutical Co has been listed one of the key medicines for those infected with COVID-19.
鈥淭he district aims to attract quality Japanese health industry companies to the valley to create a cluster featuring Japanese medicines and health products,鈥 Wang said.
Over 70 companies, including Japanese firm Nisshin Oillio, expressed investment intentions after the meeting.
The district launched a Health Industry Center for the valley at the meeting to offer preferential policies and services to firms based there.
Fengxian wants the valley to be on par with France鈥檚 Cosmetic Valley in Eure-et-Loir and Loiret and Japan鈥檚 Saito Life Science Park in Osaka. It has attracted some 100 companies specializing in cosmetics and bio-medicine.
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