Food industry in China is expected to experience a positive growth in the upcoming years, despite the sluggish economy. Recent remarks were made by Xiong Bilin, vice president of China National Food Industry Association.
Bilin talked at the food expo, which was held in Central China’s Henan Province, the country’s most populated administrative district. The overall performance of the industry is not so impressive, but Bilin said that the sector is expected to grow at a relatively rapid pace in the next five to ten years in the Henan Province in China.
Year on year, the industrial output of the food sector jumped 21.7 percent, to almost 9 trillion yuan in 2012. With the urbanization and enormous potential in food processing enterprises, it will provide major impetus to the development of the sector. Urban population of the country increased to 712 million in 2012, which is 52.27 percent of the total population of China.
Bilin also noticed that if Chinese enterprises intensify the efforts in deep food processing development, it has a great room for further improvement compared to that in already developed countries, which means that the profit ratio in the food industry would increase.