date:Jul 04, 2013
worth about HK$12.5 billion ($1.6 billion) as part of a plan to expand its milk powder business.
On Wednesday, China's official Communist Party mouthpiece, the People's Daily, said foreign and local players were equal before the law but that foreign brands should not raise prices frequently without regard to the law and abuse their competitive advantage.
From 2008, some foreign milk powder brands have increased their prices by up to 30 percent, nearly double that of local milk powder brands, s