date:Aug 21, 2013
$818m) per annum, reported Reuters citing the China Securities Journal, a state-run newspaper.
Inner Mongolia Yili Industrial Group, Feihe International and Wondersun Dairy are likely to gain from the consolidation plan, the newspaper said.
In line with this plan, the Ministry of Industry and Information Technology (MIIT) has prepared a draft to encourage mergers and acquisition of infant formula firms, and submitted it to the country's top officials.
With this proposal, China is seeking to s