Autumn 2021

10 May21326 Spec Chem has also always attached importance to co-operation with universities, colleges, and research institutes. From the early days of the company’s establishment, many of its research projects took place in collaboration with China Pharmaceutical University. Later on, it established long-term co-operative relations with Hebei University, Jiangnan University, Nanjing Tech University, and more. One of the markets Spec Chem operates in is one of the biggest and fastest growing in the world – its home of China – with retail sales rising to more than 340 billion yuan as of July 2021, which is an increase of 8.5% year on year, according to the Chinese National Bureau of Statistics. Considering this, it is unsurprising that many foreign cosmetic companies are looking to expand into China, with their sights set on such a fast-growing market. The Chinese cosmetics market may look very promising with a multitude of opportunities, but that’s not to say that it doesn’t come without its challenges. With Chinese regulation being very strict and constantly changing, it can be hard for those companies who aren’t well acquainted to keep up and they may find it overwhelming. Therefore, it is important to know the regulation well enough so they can ensure compliance. This involves checking approved ingredients and ensuring there aren’t any prohibited substances in the product. China divides cosmetics ingredients into two categories – ingredients that are existing and ingredients that are new. Cosmetic companies should refer to the Inventory of Existing Cosmetic Ingredients in China (IECIC) list or register any new ingredients with the competent authority before they can be used in products sold in China. Any new ingredients that are approved are added to the List of Approved New Cosmetic Ingredients. Of course, Spec Chem knows its way around all these regulations with great experience and expertise which stems from