Tianjin-based Bloomage Biotech is expected to break ground on a facility to produce hyaluronic acid (HA) used by dermatologists to keep the skin looking vibrant and young and is a key ingredient in cosmetics and medicine, a website under the Tianjin Economic and Development Area said.

The 477,433.5 square meter production center is expected to become the world's largest HA production base because the company is already one of the biggest HA producers, local media including Tianjin Daily reported.

HA is a major component of cosmetics that could help Chinese women slash their spending on skin care.

Data showed that Bloomage's HA output now accounts for 40 percent of the global total and 70 percent of the material produced in China. Bloomage's said sales last year hit 1.26 billion yuan ($183.1 million), up 54.41 percent year-on-year. Its net profits surged by 424 million yuan during the period, up 90.7 percent year-on-year, its website said.

The company is famous for its lipsticks, a souvenir which is one of the favorites for travellers to the Forbidden City.

The company is planning to go public so exact figures for the first half has not been released per disclosure rules.

It has applied for 95 patents in China and obtained 21 qualifications to produce in other countries, said Zhao Yan, the company's president.

The technology it uses in fermenting HA has bolstered its production volume from 300 kilograms to 180 metric tons annually, which has significantly reduced HA costs and cemented the foundation of its wider applications.

The major challenge for China's HA production is that the government has not yet given a nod to mass production of many products or drugs made with HA, market insiders said.

Zhao expects HA to have wider applications in China's medical and self-developed cosmetics.

The Health China 2030 plan made an urge to develop more medical facilities and drugs with state-of-the-art homegrown technologies.

"However, HA has seen widespread application on eye and bone disease treatment, skin care and plastic surgery, while its application in China still has a great gap in research and clinical use compared with foreign countries," said Sun Shuxia, honorary president of the Food Nutrition and Safety Committee of the China Healthcare Association.

Sun said in foreign countries, many foods that contain HA have hit the market and its medical use in protecting the stomach and reducing the risks of women's cervicitis, an irritation or infection of the cervix, have benefited numerous patients.

She expects more government support to help in the market application of HA in China.

Expanding the use of HA could also trim cosmetic imports, with Chinese imports having surged by 67.5 percent in 2018 to 65.7 billion yuan, Chinese customs data showed.