date:Jun 17, 2014
rm Commission and the China Food and Drug Administration (CFDA).
The work plan says that companies will be encouraged to reorganize through mergers and acquisitions (MA). By 2015, China will aim to have formed around 10 large baby-formula conglomerates, each with an annual sales revenue of more than 2 billion yuan (325 million U.S. dollars).
By that time, the top 10 domestic brands of baby-formula are expected to account for a total market share of at least 65 percent.
The plan also sets a fu