Core Viewpoint - The National Medical Products Administration (NMPA) has released a set of opinions aimed at deepening cosmetic regulation reform and promoting high-quality development in the industry, focusing on safety, innovation, and market expansion [1][2]. Group 1: Regulatory Reforms - The NMPA will establish a special review channel for new efficacy cosmetics, implementing an "immediate report and review" system to streamline the approval process and support innovative research [2][3]. - The opinions include 24 reform suggestions and 48 specific measures to enhance category innovation, regulatory optimization, and industry empowerment [1]. Group 2: Market Expansion - The new policies aim to make China a global launch hub for new cosmetic products by allowing international brands to bypass certain licensing requirements, thus accelerating their entry into the Chinese market [3]. - The domestic cosmetic market is projected to exceed 1 trillion yuan in transaction volume by 2024, with domestic brands holding a market share of 55.2% [1]. Group 3: Silver Economy - The opinions emphasize the development of cosmetics tailored for the elderly, encouraging companies to focus on research related to skin aging and to expedite the registration and listing processes for these products [3][4]. - The potential of the silver economy is recognized as a significant growth area, with specialized products for older consumers becoming a key innovation track [4]. Group 4: Digital Transformation - The NMPA plans to implement electronic labeling for cosmetics, enhancing information accessibility and consumer understanding through digital formats [4][5]. - The regulatory framework will be optimized to reduce the burden on companies, focusing resources on high-risk areas while ensuring a non-intrusive regulatory environment [5].