China to encourage foreign investment in livestock breeding, plant-based meat substitutes
BEIJING (Reuters) - China’s state planner said on Friday that it will encourage foreign investment in livestock and poultry breeding, as well as plant-based meats substitutes, from this year.
The move by the National Development and Reform Commission comes as China, the world’s top meat market, strives to boost supplies of meat and alternative proteins to plug a major pork shortage after African swine fever decimated its massive pig herd.
China’s pig producers have ramped up imports of foreign breeding pigs to rebuild a sow herd that had fallen as much as 60% due to the deadly disease.
Major international players and local firms alike are already moving to develop and sell plant-based protein products to the China market.
Reporting by Hallie Gu and Tom Daly; Editing by John Stonestreet and Kenneth Maxwell