The 6th China (Baiyun Beauty Bay) Cosmetics International Summit Forum. [Photo/WeChat account: gz_baiyunfabu]

Cooperation agreements between Baiyun Beauty Bay's international cosmetics research institute cluster and domestic universities and R&D institutions were signed during the 6th China (Baiyun Beauty Bay) Cosmetics International Summit Forum, which ended on Aug 9 in Guangzhou's Baiyun district.

The cluster has now reached cooperation intention agreements with 22 top domestic universities and R&D institutions, including Jiangnan University, South China University of Technology, as well as Southern Medical University.

Of particular note, the Shenzhen Institute of Advanced Technology of Chinese Academy of Sciences has credited its willingness to cooperate with the cluster to Baiyun's favorable policies, cosmetics industry foundation, as well as scientific and technological innovation strength.

Covering a total land area of 836 mu (56 acres) and a total investment of 6.8 billion yuan ($1 billion), Baiyun has now transferred 20 State-owned land plots for cosmetics-related projects. Nineteen leading enterprises, including Guerlain Beauty and Adolfo, have obtained their own land lots for further construction.

As of July 18, Baiyun is home to more than 4,200 commercial cosmetics enterprises, while its 1,259 licensed cosmetics production enterprises account for 42.07 percent of Guangdong's total and 23.83 percent of China's total.

The establishment of the cluster signifies that Baiyun has taken scientific and technological innovation as the core driving force to promote the development of its cosmetics industry.