Major investment for Oriental Beauty Valley
Officials with Fengxian District government and China Aoyuan Group sign investment agreements to develop Oriental Beauty Valley.
Oriental Beauty Valley, on the southern outskirts of Shanghai, has secured new investment of 12.5 billion yuan (US$1.8 billion) from China Aoyuan Group, a developer in southern China.
Fengxian signed three investment deals with the property developer in Hong Kong, the district government said on Monday.
Aoyuan plans to invest 8 billion yuan to create a China headquarters for its healthy life and beauty industry, said Guo Ziwen, chairman of the property firm.
Aomygod, the group's commercial operation and property management company, will invest another 4.5 billion yuan to develop a medical and beauty exhibition center in the valley. The company's headquarters will also be based there.
In cooperation with Fengxian, the group's scientific and medical sectors are expected to grow rapidly while its clients can receive better services at the valley, the group said.
Zhuang Mudi, Party secretary of Fengxian District who led a delegation to Hong Kong, said the valley is being developed into a new development platform for China's cosmetic and health industries.
The valley, the first of its kind in Shanghai, includes a 20-square-kilometer industrial park which will serve as the headquarters of domestic and international companies.
China’s leading cosmetics brands such as Jala, Pechoin, Chicmax and Marie Dalgar have manufacturing centers or marketing headquarters in the valley, which aims to be on a par with France’s Cosmetic Valley in Eure-et-Loir and Loiret and Japan’s Saito Life Science Park in northern Osaka.
The valley has attracted nearly 100 cosmetics companies and generates more than 40 percent of the total value of the city's cosmetics industry.
The district government expects the value of cosmetic and health products manufactured in the valley to reach 100 billion yuan by 2025.
