Despite the above post, do NOT give cash to your friends/ hosts...it would be bizarre in the extreme, and frankly, insulting in my understanding of Chinese culture.
Unlike in the West where there is a limited array of "suitable gifts" to give (e.g. booze, chocolate, flowers etc), we've found with our Chinese friends that genuine thoughtfulness and actual practicality are appreciated. In that sense, high quality edible goods, even meat (!!) are appreciated (but don't bring meat, it might get confiscated). if your friend drinks alcohol, that's often given as a gift, but honestly, it will most likely be regifted, but nonetheless appreciated. Coach bags can be bought for under $150, and again, would either be appreciated, or re-gifted. I personally would never buy cosmetics or perfume for someone I don't know well. And although vitamins etc are really appreciated, again, I think would be better if you saw the person regularly, instead of the for the first time in years.
We usually go for high quality and local edible goods, unless the family has kids, in which case something nice for the children.
tb
PS you could always _ask_ your friend if there's something they need from the US. If e.g. they say "vitamins", you can get a decent quantity as the 'main gift' and a token small something etse, and that would, honestly, be appreciated most of all.