In Shanghai, L’Oréal has consistently increased its investment in local R&D, collaborating with innovative Chinese companies to develop cutting-edge technologies. Furthermore, it accelerates the incubation of new cosmetic brands through specialized investment funds. This trend extends beyond the consumer sector. German industrial giant ebm-papst has also launched products tailored to the local Chinese market, which were subsequently exported to its European factories, achieving “reverse export.” Its Phase III expansion project in Xi’an, with a total investment of 500 million RMB, will become one of its largest global manufacturing bases.