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Shandong deepens cooperation with Global 500
8/30/2020



In recent years, Shandong has been ramping up efforts to optimize its business environment, deepen its cooperation with Fortune Global 500 companies and industry leaders, and attract high-quality projects.

French food giant Danone, a Fortune Global 500 Company, recently acquired a local dairy company in Qingdao and invested over $20 million to build its first production facility for infant milk formula in China.

As the transaction involved changing enterprise registration information, Danone needed to acquire a food production license before it could put the facility into operation.

"China is strict about registering overseas infant and toddler formula milk producers, and producers are required to register their powdered baby milk formula with the food and drug regulatory agency," said Wan Nianxiu, an official from Chengyang district market supervision bureau in Qingdao.

According to Wan, officers from local market supervision, business and other departments organized a special work team stationed in-house at the facility to help familiarize it with the approval process and prepare the required application materials.

The Center for Food Evaluation at the State Administration on Market Regulation has already accepted three infant formula registration certificates from Danone, said Wan.

"Government departments at all levels in Shandong have given us strong support and help. We hope to further expand our business here and expand our range of nutritional products and services tailored to Chinese health needs, traditions and tastes," said Li Peng, a senior manager from the Danone Qingdao plant.

Official data showed that by the first half of 2020, a total of 219 Fortune 500 companies had invested in 785 companies in Shandong, with the actual use of foreign capital reaching $25.51 billion.

 

 


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