April 20, 2016
New Hope aims to be the leader in high-end meat industry
According to a recent statement from the chairman of New Hope Group, Liu Yonghao, the Zhejiang provincial government and the Australian Trade Commission have officially signed a memorandum of cooperation last week regarding the Sino Australia Free Trade Industrial Park which the New Hope Group has invested in.
Located alongside the Ningbo-Zhoushan deep water cargo port which was resulted from the merger of the Zhoushan Port and Ningbo Port last September, the industrial park is a joint venture between the Zhejiang government, New Hope Group, and Harvest Fund Management, one of China's biggest fund management companies. It is reported that the total investment for this project will be at least RMB10 billion (US$1.54 billion).
New Hope Group has committed to produce only products that carry the ASA100 brand in the industrial zone. The ASA100 brand campaign aims to be one of the world's most reliable suppliers of safe, premium agricultural food products.
Liu mentioned in the press conference that Australia, New Zealand, the United States, and South America are some of the world's most advantageous countries when it comes to high-end meat production. He further elaborated that the production of high-end meat depends heavily on the support of environmental resources, though China's huge market demand is its biggest advantage, she does not possess the required resources. Hence, this explains the Group's aggressive agricultural projects in countries like Australia, New Zealand, and the United States in recent years.
In addition, Liu revealed that the company will be investing a sum of RMB17 billion (USD$2.63 billion) over the next three to five years, to build up its high-end meat system. The company's ultimate goal is to be the top leader in the high-end meat industry.