China’s food industry is targeting a gross output of RMB 1.23 trillion (US$195.02 billion) by 2015, up 100 percent from 2010 and an increase of 15 percent per year, according to the 12th Development Plan for Food Industry released by China's Ministry of Industry and Information Technology.
China will foster a wave of large-scaled food companies and groups, including at least 50 companies whose sales are able to reach RMB 10 billion (US$1.56 billion) annually, according to the plan.
