Top Chinese cosmetics and health & wellness industries scout for opportunities in PH

Several Chinese cosmetics and health & wellness companies are now eyeing the Philippines for manufacturing opportunities.

This comes in after a 30-man delegation led by China-ASEAN Business Council (CABC) Executive Pres. Xu Ningning paid a visit to the country last December 6, including Guangzhou-based Houdy Cosmetics Co. Ltd. and Xuelei Cosmetics Co. Ltd.

CHINESE COSMETICS TO GO GLOBAL. CABC Exec. Pres. Xu Ningning (middle, front row) leads a 30-man business delegation in the Philippines for possible business opportunities.

In an interview with members of the press, Xu said that most of the companies in the delegation “have [a] large market share in China and they would like to promote globalization of their brands,” with Houdy and Xuelei looking at establishing manufacturing facilities in the country.

The delegation is the second largest brought to the Philippines by CABC after the construction delegation in August. It is also the second time the CABC has brought a delegation of Chinese businessmen to the company since President Rodrigo Duterte assumed office in June 2016.

STABLE POLICIES. One of the reasons cited by Xu is the recent stabilization of policies in the country.

“Few years ago, Chinese companies do not go to the Philippines a lot,” the CABC executive noted. Chinese companies, however, have taken an interest in the country since Duterte took over the presidency.

“More and more Chinese companies are visiting the Philippines. Now there’s a lot of space for this cooperation. Business cooperation grows when policies are stable,” Xu added.

All images courtesy of China-ASEAN Business Council
Source: Philippine News Agency, BusinessMirror