Many investment opportunities have emerged from China’s packaged food market since the melamine scandal broke out in the infant formula market in 2008, Pansy Yau, deputy director of research at the Hong Kong Trade Development Council, said.
Speaking at a forum in Hong Kong on Friday, Yau said mainland consumers are now demanding higher food safety standards, while Chinese food providers welcome foreign investment, especially from internationally renowned brands, to improve their food safety image. This has increased opportunities for foreign firms with food safety expertise to tap the Chinese market, she said.
Meanwhile, investment in China is expected to grow in the next few years as foreign companies seek to grab a share of the nation’s burgeoning middle-class market. Yau said international companies are likely to form partnerships with domestic firms to take advantage of the latter’s market share and distribution channels.
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