Baby formula sector revamp soon
Updated: 2014-06-14 07:25
By Yang Ziman in Beijing and Wang Zhuoqiong in Xi'an (China Daily)
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China on Friday unveiled the blueprint for consolidation of its fragmented infant formula industry and indicated that the sector would have 10 manufacturers with annual sales revenue of more than 2 billion yuan ($160 million) by 2015. Geng Guoqing / For China Daily |
China on Friday unveiled the blueprint for consolidation of its fragmented infant formula industry and indicated that the sector would have 10 manufacturers with annual sales revenue of more than 2 billion yuan ($160 million) by 2015.
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The main highlight of the plan, however, is to ensure that baby formula manufacturers use the raw milk produced on farms owned and controlled by them. Ministry officials indicated that by using advanced quality control techniques, the companies can also ensure that they get better returns.
Most of the baby formula enterprises certified by the China Food and Drug Administration have high quality assets, said Song Liang, a Beijing-based dairy industry analyst. The restructuring plan unveiled by the government has set attainable goals and ensures that these companies can reap sustained profits, he said.
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