Overseas Net, April 11:On April 11, Nu Skin CEO Ritch Wood and his delegation paid a visit to the People’s Daily’s Overseas Net. Keynes Li, Nu Skin Greater China Vice President and Chief Representative of Beijing Office accompanied the visit.
During the meeting, Ritch Wood introduced Nu Skin’s global development strategy, the development of the company’s business in China and social responsibility initiatives. He said that the company’s long held positive view of China’s economic development has never changed. The expansion of China's opening up to the outside world, the deepening of supply-side reform, and especially the recent adoption of the Foreign Investment Law, have all strengthened Nu Skin's resolve and confidence towards its long-term development in China. Going forward, Nu Skin will continue to strengthen cooperation and persist in being anchored to investment in the important Chinese market.
This is understood to be Ritch Wood’s first visit to Beijing since he became the CEO of Nu Skin, during which he visited Xinhua Net’s President Tian Shubin and Vice President Wei Zichuan, Guangming Net’s President Yang Gu and China Consumer News’s President Hu Guoqiang, and accepted media interviews of Xinhua Net and Guangming Net. Ritch Wood also visited Ma Xiuhong, President of the China Council for International Investment, and Gao Yan, President of the China Council for the Promotion of International Trade.
During the meeting, Ma Xiuhong expressed approval for the efforts made by Nu Skin in preparing the Direct Selling Industry Self-Discipline Council, and elaborated on the importance and practical significance of the “Foreign Investment Law.” Ritch Wood said that the “Foreign Investment Law” ensures foreign investors are treated in the same way as their local counterparts, greatly simplifying regulations over foreign investment access and increasing confidence of foreign-invested enterprises towards investment and development in China. He further declared that Nu Skin is willing to play a bridging role in the promotion of healthy China-US economic and trade relations.
President Gao Yan praised Nu Skin, which is the vice chair company of the China International Chamber of Commerce, for actively participating in the Chamber of Commerce’s events, including economic and trade exchanges and political and business discussions. She also affirmed the key role of the "Belt and Road" Initiative in maintaining the system of multilateral trade and promoting the liberalization and facilitation of trade and investment. Ritch Wood said that the "Belt and Road" Initiative is one of the best solutions for promoting global economic integration and pursuing the mutual development of all the world’s countries. Nu Skin is present in nearly 50 markets across the world, 15 of which are "Belt and Road" countries. This month, the second Belt and Road Forum for International Cooperation will be held, which Nu Skin will be invited to attend.
Founded in Provo, Utah, USA in 1984 and listed on the NYSE in 1996, Nu Skin has become a leading global company for nutritional and personal care products, with a presence in nearly 50 countries and regions across the world, throughout Asia, the Americas, Europe, Africa and the Pacific.
Ritch Wood was appointed Nu Skin’s chief executive officer in 2017. Previously, Wood served in various capacities at Nu Skin, including chief financial officer, vice president of finance, vice president of new market development, director of finance of new market development and controller of the Pharmanex division. He was involved with and instrumental in bringing Nu Skin’s business to China back from 1998 to 2002. He also played a key role in opening many European markets for Nu Skin during an expatriate assignment from 1995 to 1997. Prior to his assignment in Europe, he served as the assistant director of international tax.
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