Policies released to support Huangpu's cosmetic industry

Ten measures supporting the high-quality development of the cosmetics industry in Guangzhou's Huangpu district were released on March 19.

The document features 81 detailed regulations in 11 chapters, covering various goals like establishing major public service platforms, cultivating independent brands with global reach, and creating a world-class industrial development environment.

Companies will receive support in their efforts to overcome bottleneck problems in discovering new raw materials and new functions. Companies can receive a subsidy of up to 5 million yuan ($785,789) when successfully registering cosmetic products that use raw materials or that boast new functions.

Sector-related industrial parks in Huangpu that meet certain requirements can receive an annual subsidy of up to 1 million yuan. Cosmetic companies with an annual output value of over 20 billion yuan can receive a 20 percent discount when renting offices and factories in professional industrial parks, while a 30 percent discount will be available to cosmetic companies with an annual output of over 50 billion yuan.

Cosmetic companies achieving an annual operating value of over 50 billion yuan for the first time can receive a one-time subsidy of 20 million yuan, while a subsidy of up to 1 million yuan will go to those companies carrying out promotions for their brands.

Share - WeChat