Beijing - A local drug watchdog has launched an investigation into a hair care company in Zhejiang province after its products for the Singapore and Hong Kong markets were found to contain a banned chemical, Xinhua News Agency reported on Wednesday.

The Zhejiang food and drug administration is investigating Zhangguang 101 Co Ltd after some of its products for Singapore and Hong Kong were found to contain Minoxidil, which is a banned ingredient for cosmetic products.

Minoxidil was first used to treat high blood pressure, but clinical studies found that it also stimulated hair growth and slowed balding. However, it can also have a number of potentially serious side effects, including chest pain, fainting, accelerated heart rate and severe allergic reactions.