BEIJING, Oct 14 (XINHUA/APP): The Chinese food market is more open than before, with foreign-funded enterprises becoming a key force in developing China’s food industry, according to a white paper released Monday.
Foreign-funded enterprises in China have been processing more food, and their revenue from sales is increasing over the years, accounting for 14.5 percent and 17 percent of the national total in 2018, said the white paper titled “Food Security in China.”
Foreign-funded enterprises are becoming more involved in depth and width of China’s food market, with growing shares of business in edible vegetable oil and food processing, and activities extending into procurement, wholesale and retail, and staple food supply.
Meanwhile, China has honored its commitments to the WTO. In strict accordance with its commitments upon joining the WTO, China has rescinded import quotas, permits and other non-tariff measures for relevant agro products, exercised quota management for imported wheat, corn and rice, and cut import duties on other food types by large margins.
It has further eased restrictions on foreign investment in agriculture, allowing foreign-invested seed companies to operate in all grain types other than wheat, corn, and rare species or species unique to China, or genetically modified crops. Restrictions on foreign-invested companies regarding the procurement and wholesale of agro products have also been lifted.
In 2018, China imported 115.55 million tonnes of oil crops, feed and other foods, while exporting 3.66 million tonnes, up 945 percent and 171 percent over 1996, respectively, according to the white paper.
The country has also worked to strengthen international cooperation in all areas, including sharing resources and experience on food security and actively participating in world food security governance.