Dairy giant using innovation to expand in global markets

China Mengniu Dairy Co Ltd, the nation's leading dairy producer in terms of revenue, is banking on innovation to further open the doors for its globalization ambitions, its top official said.

"Innovation is inherent in our DNA and will be our calling card in global markets," Mengniu CEO Lu Minfang said in an interview with China Daily. "As the first Chinese dairy firm to go overseas, globalization is taken as one of our top priorities."

Lu made the remarks during the World Economic Forum's annual meeting of New Champions 2019, also known as the Summer Davos. The event was held in Dalian, Liaoning province, earlier this month.