France and China have agreed to cooperate to improve the supervision environment of cosmetics to protect market access and product security.
According to Bloomberg, the French Ministry of Finance said on Saturday (July 29) that the two countries will set up a working group to work hard to coordinate supervision. The first meeting of the working group will be held in France by the end of this year.
According to the joint situation of the Sino -French economic and financial dialogue issued by the Ministry of Finance of China, the work theme of the working group includes the information exchange of cosmetics regulatory laws and regulations, regulatory experience and best practice; knowledge such as product information and other knowledgeProperty rights, cracking down on counterfeit and inferior cosmetics cooperation; cooperation in the field of standards and inspection.
French Finance Minister Lermel is currently visiting China to discuss economic and financial cooperation matters.Earlier, French President Macron visited China in April.
Bloomberg reported on June 1 that the European Union had proposed concerns about the regulations of Chinese cosmetics companies because Beijing requested L'Oreal, LVMH and other companies to provide detailed product information if selling goods in China.
China will implement this regulation in stages. Cosmetics companies must provide data such as raw materials and production process details, raw material procurement and formula composition.Most information is collected and stored in the official database managed by China.
Bloomberg quoted people who are not well -known, saying that the main concerns of European companies are that China may make business secrets in the guise of product security.No evidence or signs show that China will use the information collected from cosmetics for malicious purposes.
For a long time, the European Union and the United States have complained that certain policies and practices of China may lead to the transfer of technology and intellectual property rights.Nevertheless, if you want to enter the huge Chinese market, EU companies have no other law except to comply with these regulations.
