Quotable

Local companies have wider distribution networks, particularly in lower-tier cities where growth is higher. They can make faster decisions and are more adaptable in the digital environment than their foreign peers, achieving a higher growth rate."

Jason Yu, general manager of Kantar Worldpanel China, which recently released its fifth annual China Shopper Report with Bain & Co. The report suggests the rise in China's service sector and its higher-paying jobs have boosted growth among brands in premium categories such as yogurt and pet food. It also says foreign brands are continuing to lose out to domestic brands.

"Acquiring companies is like making a salad. The recipe for success is to use one type of sauce to blend different vegetables. In other words, to let different cultures coexist on one platform."

Zhang Ruimin, chairman of Haier Group, speaking during the 2016 Tianjin Summer Davos.

(China Daily Africa Weekly 07/02/2016 page24)