China's foreign trade and investment is expecting a "big expansion" in the years ahead, said Chairman of Britain's 48 Group Club Stephen Perry. "It will require new strategies for European companies."

As China has become the first major economy to return to growth amid the COVID-19 pandemic, it has boosted the sluggish global market. According to a recent report from the French Federation for Beauty Companies, China is becoming the leading market for French cosmetics.

"We hope to join hands with more Chinese and European partners to drive more consumers to embrace 'good consumption' through more innovative products, brands, services and models," said L'Oreal CEO Jean-Paul Agon.