Big look at China trade and investment trends
In addition to the general trends of investment in agriculture and food production to meet demand, Walker came back with opinions about sentiments and trends specific to food purchasing by the Chinese people. Bullet points of consumer trends are below:
- “A growing group of Chinese consumers are able—and choosing—to spend greater amounts on food, and pork remains a primary meat choice.
- The Chinese people have very strong concerns about food safety (in light of a number of significant incidents, such as melamine in baby formula), and they blame the Chinese government for this problem.
- Imports will likely continue of pork and poultry because of their strong demand as diet staples (with growth contingent on increasing consumer spending capacity), and beef has the largest meat growth potential (trade restrictions remain, but efforts to eliminate them continue).
- Chinese consumers enjoy U.S. food products and believe the products are safer; double-digit growths in purchasing demand is anticipated.”
Faegre Baker Daniels represents many of the world's leading food and agriculture companies, with more than 120 attorneys serving agriculture. Walker is the head of the firm’s Food & Agriculture Industry Group.
Various meetings were held as part of the trade mission with presentations and discussions including government officials and representatives of various companies with Chinese operations.