China aims to exceed 60% self-sufficiency for baby formula and improve the quality of domestic brands
Morgan Stanley says the risk to NZ and Australian producres is their effective addressable market in China will shrink
The new plan doesn't entirely try to shut out foreign companies
- will support domestic dairy producers in acquiring or setting up overseas bases for milk supply
- encourage foreign dairy firms to invest in China
- tighten regulations on the milk-powder imports and online sales platforms
