Competition from foreign companies poses intensifying competition for China’s dairy industry, especially its infant formula market, as new regulations aim to streamline dairy imports.
According to reports, new rules, which took effect May 1, allow foreign dairy companies to import products that meet quality standards when approved by regulators. Reports say more than 1,000 foreign dairy producers have received such approval, including firms from Ireland, New Zealand and Singapore.
But experts reportedly predict about half of the smaller foreign dairy firms will not gain entry into the Chinese market. Still, reports say, major international companies, including Mead Johnson and Danone, will pose new competition to the domestic market.
Only months ago, China earned some criticism over its crackdown on alleged infant formula price-fixing, as some opponents claimed regulators were unfairly targeting foreign dairy producers.
Full content: English.news.cn
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