date:Aug 21, 2013
China is set to launch a proposal to consolidate domestic infant formula manufacturers as part of its efforts to boost consumption of local products.
Under the proposal, China plans to reduce the number of manufacturers to around 50 over the next five years and promote the growth of large dairy companies.
The Chinese government expects the ten leading domestic milk powder manufacturers to have about 80% share in the infant formula market, with three to five firms targeting revenues of CNY5bn (