Market Continues to Open

China has to increase trade levels in order to continue its growth run, an its market will continue to open up to imports, which have passed in value from 295 billion dollars in 2002 to 1.7 trillion in 2011. In fact, as an economy which has a special need for exports in order to grow, the People’s Republic is rapidly becoming a consumer society, and increasing imports is a necessity not only for the economically, as the example of powdered milk demonstrates. Due to recent food scandals, consumers are moving closer to foreign brands, which in China hold a market share of 80% in the powdered milk segment. For now, multinationals from the Pacific region are taking advantage of the opportunities, but large Dutch, German and Danish firms are also present. If the milk scandal is a matter of health, the Chinese authorities have reminded many times that increased imports are nothing to be ashamed of as they are needed for growth. China’s deputy trade minister Zhong Shan sees “great long-term potential” for the country’s imports.