By Mimosa Spencer

PARIS, May 3 (Reuters) - France's world-leading

cosmetics sector is counting on talks between Xi Jinping and

Emmanuel Macron next week to help minimize the impact on French

companies of tough new Chinese import rules requiring the

sharing of formulas and manufacturing know-how.

President Xi's first visit to Europe in five years comes

amid a backdrop of tense trade relations, with the European

Union threatening China's electric vehicle and green energy

industries with tariffs.

But progress towards an agreement between France and China

on the regulation of cosmetics, including lipstick and

fragrances, could be a bright spot in discussions in Paris next

week.

President Macron's office said ahead of the meeting that

cosmetics would be a topic of "great attention," and that they

sought to "find a solution that also protects the interests of

our companies."

France is the world's leading cosmetics exporter, shipping

nearly 2 billion euros ($2.15 billion) worth of makeup and skin

care products to China last year, second in importance only to

aerospace products.

New Chinese safety rules due to come into effect next year

threaten that trade.

From May 2025 cosmetics exporters will be required to share

detailed information on their manufacturing processes with

Beijing and receive Chinese inspectors in their factories, a

measure that raises concerns about losing control of

intellectual property.

Under a plan proposed in talks between the two sides in the

past year, French authorities would take responsibility for

assuring the safety of some of its exports without the need for

Chinese inspections.

France would grant some similar measures to China, but it

was not clear what areas those would cover.

"This reciprocity will assure the highest standards of

safety to Chinese consumers," said Emmanuel Guichard, secretary

general of France's cosmetics industry association (FEBEA),

adding that the plan could be formalized during talks between Xi

and Macron.

FEBEA's members include L'Oreal, LVMH and

Coty ( COTY ).

Under the agreement, France's consumer and anti-fraud

watchdog (DGCCRF) would ensure the safety of a number of French

manufacturers that qualify for "white list" status.

The agency said in a report issued on Friday on its recent

activities that it held its first meeting on certification of

French cosmetics for export to China with China's National

Medical Products Administration (NMPA) in December.

The Elysee did not immediately respond to a request for

comment.

The DGCCRF did not immediately respond to a request for

comment. The NMPA could not be reached for comment on a holiday

weekend.

($1 = 0.9294 euros)