In an era of increasing global economic integration, foreign-invested companies are making significant strides in expanding their footprint within China. Cao Hongying, the executive vice president of the China Association of Enterprises with Foreign Investment, emphasized this trend during the inauguration of the second phase of Nu Skin Greater China Innovation Park (GCIP Phase II) in Fengxian district, Shanghai.
“For two decades, we have been deeply immersed in the Chinese market, witnessing and actively contributing to the remarkable growth of China’s beauty industry,” stated an executive from Nu Skin during the ceremony. The company, specializing in beauty and wellness products, has undergone rapid development, diversifying its business activities and establishing a substantial presence in China.
With a widespread presence across the nation, China has evolved into one of Nu Skin’s most pivotal overseas markets. The company has demonstrated its commitment to innovation by participating in the China International Import Expo (CIIE) for the third consecutive year, consistently unveiling cutting-edge beauty and wellness solutions.
Nu Skin has set its sights on creating an innovative, technologically advanced cosmetics production platform that adheres to industry 4.0 standards. This ambitious endeavor is poised to become a shining example and a new paradigm in the beauty and wellness sector, as highlighted by Li Yongjie, an official from the Shanghai Fengpu Industrial Park.
The cosmetics industry in China is currently presented with unprecedented opportunities for high-quality growth. Numerous companies, including Nu Skin, prioritize scientific and technological innovations to deliver superior products to consumers, ultimately enhancing their quality of life, according to Yan Jiangying, president of the China Association of Fragrance, Flavor, and Cosmetic Industries.