News

Oriental Beauty Valley sees big Q1 boost

Jun 5, 2019


Fengxian District released its industrial economic statement recently, reporting an industrial value of 41.34 billion yuan (US$5.98 billion) in the first quarter of the year, the highest compared to all previous first quarters and a 17.9 percent increase of the overall financial income.


Officials contributed the good economic performance to the fast development of Fengxian-based cosmetic industrial park Oriental Beauty Valley, with five of its six branch industries experiencing growth.


The cosmetic industry, accounting for 30 percent of the park's industry scale, had a 6.6-percent year-on-year increase, giving a great boost to the upward trend.


Founded in September 2015, the park was developed from the local key industry of cosmetic manufacturing. It quickly rose with a total value of 20 billion yuan one year later with the brand "Oriental Beauty Valley".


Last year a world cosmetic convention was held at the park, gathering over 200 industry leaders from 14 countries and regions to discuss issues about the trade.


The park, meanwhile, continues to spread its layout, setting up a professional research institute and settling more companies from home and abroad.

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