According to Guangzhou Daily, Guangdong Yashili has finalized setting up a milk factory in New Zealand, following Yili Industrial Group to be the second domestic milk giant to make such investment in the short term.
With full production capacity, both factories can produce close to 100,000 tons of milk powder in New Zealand each year, equal to 20 percent of the total imports of milk powder in China in the first three quarters of last year. Industry analysts believe that the mutual agreements between China and New Zealand and food safety issues together promote this wave of investment.
Chinese consumers' demand for imported milk motivates domestic enterprises to set up factories and speed up acquisition in New Zealand.
Yashili International Holdings is planning to build a 1.1 billion yuan ($210 million) processing plant.
Edited and translated by Huang Beibei, People's Daily Online
Read the Chinese version: 国产奶粉掀"出海"建厂潮 互惠协定促新西兰开绿灯
Source: Guangzhou Daily
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