Overseas firms eye dairy industry

SHANGHAI: Foreign companies are taking a punt on China's dairy industry as the tainted milk scandal takes its toll on local producers.

Japanese beer maker Asahi Breweries on Sunday entered the nation's dairy sector with a high-end liquid milk product targeting Beijing, Shanghai and Qingdao.

The new product, priced between 2.1 and 2.5 yuan per 100 ml, is almost twice the cost of the country's existing milk products.