China - a booming economy
China has opened the gates to its giant market since being member of WTO in December 2001. One of the developments is the phased cutting back on import duties.
In the first quarter of 2005, the Chinese economy grew at 9.5%, the same rate as for the whole of 2004.
Furthermore China abolished the import-export licence system, which used to slow down trade exchanges and cause outrageous extra-costs for both exporters and consumers. By the end of 2005, starting an import-export activity in China will be allowed without getting an official licence.

  
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Sales in the food industry grew by 26% in 2004 with particularly strong growth (35%) in the food processing industry. That level of strong growth has carried through into the first two months of 2005.

The largest market sector is bakery products (USD 8.3bn) which grew by 8.4% in 2004 while the fastest growing was oils and fats which recorded sales growth of 23.7%.

The figures in the table below show that production in volume terms is expected to jump by almost 80% in the FYP period. The average product category is scheduled to grow by 52.7% with milk the only one expected to see a decrease.