CIIE great sign China opening to world economy: L'Oreal CEO

The grand import fair being held in Shanghai is "very important because it's a great sign that China is opening to the world economy," Jean-Paul Agon, CEO of L'Oreal, one of the world's biggest cosmetics companies, has told Xinhua.

The Second China International Import Expo (CIIE), held from Tuesday through Sunday, is "the only and first exhibition like this of imported products in the world," Agon said in a recent interview in Paris.

And it is the second time for L'Oreal to present top shelf products at CIIE.

The CIIE is "to bring to Chinese consumers the best of all inventions, brands, products from all over the world," said Agon, adding that also works in the way for L'Oreal.

"Last year, we brought 500 products (at CIIE), which was a great success. This time again ... we are bringing more than 1,000 products."

"China is a very important market in terms of size," he said.

Recalling his early years at a L'Oreal subsidiary in China in 1997, he said: "In 20 years, we have been able to make China the second biggest business of L'Oreal worldwide."

Agon said he was convinced that China will very soon become the number one beauty products market in the world for his business.

An open Chinese market is strongly attracting multinational companies, he said.

This year marks the 55th anniversary of the establishment of diplomatic ties between China and France. French President Emmanuel Macron had just wrapped up a successful three-day China visit, including a trip to CIIE.

As one of the first French firms to enter the Chinese market, L'Oreal was lucky to witness and benefit from the opening-up and development of China, Agon said.

"L'Oreal has always been integrated in the relationship between France and China... and L'Oreal is really doing everything it can to help the relationship between the two countries," he added.