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Aside from diversifying the offerings and accelerating new product innovation of the 10 brands currently owned and operated by the company, Jahwa said it would also look for more opportunities for mergers and acquisitions. Last year, the company made its first overseas acquisition with the purchase of Tommee Tippee, Britain's largest milk bottle producer, at the cost of 7 million.

At 12:29 pm ET the Dow Jones Industrial Average rose 454.01 points, or 1.71% to 26,955.61, the S&P 500 gained 44.00 points, or 1.35% to 3,313.96 and the Nasdaq Composite gained 48.06 points, or 0.44% to 10,959.65.

At high school, Hu learned of an opportunity for 13 Chinese students to visit the United States on a two-week exchange. Though initially hesitant, he applied for the program after his parents encouraged him, and was accepted.

Asked about his take on China-US economic and trade ties, Rice said it is of great importance for the world's two largest countries to work together.

Associated Press writers Terry Spencer in Parkland, Florida; Jacob Jordan in Atlanta; and Holly Ramer in Concord, New Hampshire, contributed to this report.