China Mengniu Dairy Co., the country’s largest dairy producer, is close to buying more than 51 percent of infant formula maker Yashili International Holdings Ltd., according to two people familiar with the matter.
China ordered nationwide inspections of preserved-egg plants after media reports that toxic chemicals are being used as additives, the latest in a series of food scandals that have plagued the world’s most populous nation.
China is surveying soil nationwide to ascertain levels of heavy metals pollution after the discovery of rice tainted with cadmium spurred concern that crops may be unsafe, the official Xinhua News Agency reported.
Larry Silverstein, redeveloper of towers at New York’s World Trade Center site, said he will expand investment in China and enter Israel for the first time to capture rising demand from wealth built on natural resources.
Consumers in China are turning to well-known brands from northern provinces and Thai imports after high traces of cadmium were found in some long-grain rice in the country’s south, a commodities analyst said.
Wal-Mart Stores Inc., the world’s largest retailer, will invest 100 million yuan ($16.3 million) over three years to improve food safety in China as it works to bolster its image after a series of food-related citations.