“Over the last few years, with the introduction of a number of new policies on various fronts, L’Oréal has been able to grow together with the China market, share in the massive dividends generated by the reform and opening up of the China market, and achieve substantive and healthy development in the process. China has become the second-largest consumer market, second-largest makeup market, and largest trading nation in the world. L’Oréal has also become the largest player in China’s makeup market.