Foreign companies steadily expanding presence in Chinese market

"With the acceleration of global economic integration, foreign-invested companies are steadily expanding their presence in China, bringing important innovation impetus and vitality to the market," said Cao Hongying, executive vice president of the China Association of Enterprises with Foreign Investment, at the opening ceremony of the phase II project of Nu Skin Greater China Innovation Park (GCIP Phase II) in Fengxian district, east China's Shanghai.

"Having deeply engaged in the Chinese market for 20 years, we have witnessed and participated in the remarkable growth of China’s beauty industry, and actively joined the efforts to benefit countless consumers with high-quality products," said an executive of Nu Skin at the ceremony.

Photo shows the phase II project of Nu Skin Greater China Innovation Park, an innovation base of the China operations of American multinational Nu Skin Enterprises Inc., in Fengxian district, east China's Shanghai. (Photo courtesy of Nu Skin Enterprises Inc.)

After years of rapid development, Nu Skin, a multinational that specializes in the development of beauty and wellness products, is engaged in a wide range of business activities and has a substantial presence in China, the executive said.

With employees located all over the country, China has become one of the most important overseas markets of Nu Skin, the executive noted.

As a three-time exhibitor at the China International Import Expo (CIIE), Nu Skin has continuously showcased new beauty and wellness solutions at the expo.

Photo shows the exhibition booth of American multinational Nu Skin Enterprises Inc. at the China International Import Expo. (Photo courtesy of Nu Skin Enterprises Inc.)

The company has strived to build an innovative, smart, and technology-empowered cosmetics production platform to industry 4.0 standards, which is expected to become a major highlight and new model in the beauty and wellness industry, said Li Yongjie, an official of the Shanghai Fengpu Industrial Park, one of Shanghai's nine municipal-level industrial parks, in Fengxian district.

"China’s cosmetics industry is faced with unprecedented opportunities for high-quality growth. We can see that a good number of companies like Nu Skin attach great importance to sci-tech innovations, and endeavor to bring better products to consumers to help them enjoy a better life," Yan Jiangying, president of the China Association of Fragrance Flavour and Cosmetic Industries, noted.