Cosmax, a global leader in cosmetics ODM (original design manufacturing), has recently been awarded the 'Multinational Corporation Regional Headquarters' certification by the municipal government of Shanghai, affirming its prominent standing within the industry.

This prestigious recognition reflects the company’s ongoing commitment to enhancing its influence in the rapidly evolving Chinese market.

On March 3, Cosmax China announced the official acquisition of the Multinational Corporation Regional Headquarters certification, a designation granted to exemplary global enterprises by the Shanghai municipal government.

This initiative is part of Shanghai's crucial policy aimed at attracting global investments and optimizing the business environment within the city.

The stringent criteria for obtaining this certification include a minimum total asset size of $200 million for the parent company and adherence to strict capital requirements for local branches.

With this certification, Cosmax China is recognized not merely as a manufacturing base but as a strategic headquarters overseeing decision-making, financial management, and supply chain collaboration within the Chinese market.

This marks a significant evolution in its operational capacity and underscores the company’s growing importance in the region.

Since launching its operations in China in 2004, Cosmax has emerged as a key participant in the development of Beauty Valley, China's largest beauty cluster.

Currently, the company boasts an annual production capacity of 1.5 billion units specific to the Chinese market.

Additionally, it holds the highest number of registered cosmetic products in accordance with the National Medical Products Administration (NMPA) regulations, a testament to its unparalleled product development capabilities.

The completion of a new corporate headquarters in Shanghai is also anticipated in the second half of this year.

Receiving this certification brings Cosmax a variety of advantages, including financial support in the form of establishment and rental subsidies.

Furthermore, it facilitates streamlined import and export customs procedures and enhances foreign currency transaction conveniences—essential considerations for international businesses.

One of the most significant competitive edges of this certification is the preferential issuance of visas to attract exceptional talent and the advantageous residency registration in Shanghai.

Given the stringent residential registration conditions in key cities like Shanghai, this advantage positions Cosmax favorably in attracting leading R&D personnel compared to ordinary enterprises.

In 2022, Cosmax China obtained the 'High-tech Enterprise' certification, validating its commitment to technology innovation through substantial R&D investments and workforce allocation.

This prior recognition also secured a 10% reduction in income tax.

The recent achievement of the Multinational Corporation Regional Headquarters certification solidifies Cosmax's distinctive competitive edge within the Chinese landscape.

A spokesperson for Cosmax stated, "The acquisition of the Multinational Corporation Regional Headquarters certification, following the high-tech enterprise award, reflects high recognition of Cosmax’s consistently developed technological capabilities and global investment ambitions in the Chinese market.

We aim to effectively respond to the rapidly changing Chinese cosmetics industry and elevate the status of K-beauty globally. "