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Mengniu’s (HKEx: 2319) new announcement of its third major tie-up in the last month marks the latest step in an important and necessary consolidation for a battered Chinese dairy sector that has been in turmoil for the last 5 years. This kind of retrenchment, which includes a healthy dose of participation by foreign firms, is exactly the kind of medicine that China needs to restore consumer confidence to its fragmented and often unruly food sectors. Read Full Post…
Two recent encounters with high-level westerners from very different backgrounds has made me realize just how much China has changed as a career choice for foreigners in the last two decades. At the same time, it’s also made me realize that the older generation of “China hands” represented by one of those westerners who came to Asia in the 1980s and ‘90s are a dying species, perhaps destined for extinction in the not-too-distant future.
Some may say this transformation of China to a routine work location for foreign executives from its former status as an exotic and often difficult destination is a good thing, reflecting a rapid economic advance that has vastly improved the lives of the country’s 1.3 billion people. I mostly agree with this view, since the China of today is certainly a better place to live in most ways than the one of just a decade or two earlier. But the looming relegation of these China hands to the history books also seems like a reason for reflection and just a touch of melancholy, since many of these people were instrumental in helping China to transform to its current state of prosperity. Read Full Post…
After 2 previous failed attempts to tap the China market, French food giant Danone (Paris: DANO) is trying yet again through a new major tie-up that includes a joint venture and equity stake in tainted dairy giant Mengniu (HKEx: 2319). This time I have to commend Danone on its choice of partners and approach in the new tie-up, which seem to show it’s learned its lesson from previous disastrous partnerships with 2 other locally controlled entities. Accordingly, the third time could finally be the charm for Danone as it looks for a success in the huge but often problematic Chinese food market. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 21. To view a full article or story, click on the link next to the headline.
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