China’s domestic baby formula market is expected to grow 10-20 percent a year from 2015 to 2020 after the government recently announced changes to its one-child policy, China Securities Journal reported Tuesday, citing industry sources. As many as 19.5 million babies will be born each year in the years to 2020, up 19 percent from 2012. With families in lower-tier cities more willing to have another child, dairy makers in the low-end market could benefit the most from the policy change, the report said. Under the reform plan, Chinese couples will be allowed to have a second child if either of them is an only child. The present policy requires both parents to come from one-child families to qualify.
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