<正> The Shanghai Household CosmeticsAllied Corporation was establishedin 1898. It is the earliest national cosmeticsenterprise in China. From the GuangSheng Hang(an old firm)in Qing dynastyto a group corporation with modern scaleoperation today, almost a century haselapsed from beginning to end. Thedevelopment of the Shanghai HouseholdCosmetics Corporation bears witness tothe national cosmetics industry's growthfrom small to large, and from weak tostrong. After entering the 1980s, theShanghai Household CosmeticsCorporation has made considerableprogress, especially in recent years, underthe guidance of the operating strategy on