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China's industry regulator is set to release a plan on Friday to guide mergers and acquisitions in the baby formula sector, media reported on Wednesday citing the Ministry of Industry and Information Technology (MIIT).
According to the plan, the total number of domestic baby formula producers will be reduced to around 50 by the end of 2018 from the current 130, and there will be three to five mega companies with annual sales of over 5 billion yuan ($800.5 million).
Shanghai drugstores begin trial sales of baby formula
2014-06-04China tightens control on infant formula makers
2014-06-03China tightens permits for baby formula producers
2014-05-30Beijing pharmacies to handle all infant formula sales
2014-05-21Baby formula pilot project launched
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