The Chinese Bakery Market: Industry Overview
INDUSTRY OVERVIEW
This section contains certain statistics, industry data or other information which have been derived from government, official or other public sources. We believe that the sources of such information are appropriate sources for such information and have taken reasonable care in extracting and reproducing such information. We have no reason to believe that such information is false or misleading or that any fact has been omitted that would render such information false or misleading. The information has not been independently verified by us, the Sole Sponsor, the Sole Global Coordinator, the Joint Lead Managers, the Joint Bookrunners, the Underwriters, any of their respective directors, officers, affiliates, advisors or representatives, or any other party involved in the Global Offering, and no representation is given as to its accuracy. We, the Sole Sponsor, the Sole Global Coordinator, the Joint Lead Managers, the Joint Bookrunners, the Underwriters, any of their respective directors, officers, affiliates, advisors or representatives, and any other party involved in the Global Offering make no representation as to the completeness, accuracy or fairness of such information and accordingly such information should not be unduly relied upon. THE PRC ECONOMY Economic Growth The PRC economy has been experiencing steady and fast growth since the PRC government adopted the “Open Door Policy” in 1978. According to the National Bureau of Statistics of China, the PRC’s gross domestic product, or GDP, increased from approximately RMB21,631 billion in 2006 to approximately RMB40,120 billion in 2010, representing a CAGR of approximately 16.7%. Urbanization Trend Industrialization has accelerated urbanization in the PRC through the migration of rural populations to urban areas and the development of towns into cities. According to the National Bureau of Statistics of China, from 2006 to 2010, total urban population in the PRC increased from approximately 583
This section contains certain statistics, industry data or other information which have been derived from government, official or other public sources. We believe that the sources of such information are appropriate sources for such information and have taken reasonable care in extracting and reproducing such information. We have no reason to believe that such information is false or misleading or that any fact has been omitted that would render such information false or misleading. The information has not been independently verified by us, the Sole Sponsor, the Sole Global Coordinator, the Joint Lead Managers, the Joint Bookrunners, the Underwriters, any of their respective directors, officers, affiliates, advisors or representatives, or any other party involved in the Global Offering, and no representation is given as to its accuracy. We, the Sole Sponsor, the Sole Global Coordinator, the Joint Lead Managers, the Joint Bookrunners, the Underwriters, any of their respective directors, officers, affiliates, advisors or representatives, and any other party involved in the Global Offering make no representation as to the completeness, accuracy or fairness of such information and accordingly such information should not be unduly relied upon. THE PRC ECONOMY Economic Growth The PRC economy has been experiencing steady and fast growth since the PRC government adopted the “Open Door Policy” in 1978. According to the National Bureau of Statistics of China, the PRC’s gross domestic product, or GDP, increased from approximately RMB21,631 billion in 2006 to approximately RMB40,120 billion in 2010, representing a CAGR of approximately 16.7%. Urbanization Trend Industrialization has accelerated urbanization in the PRC through the migration of rural populations to urban areas and the development of towns into cities. According to the National Bureau of Statistics of China, from 2006 to 2010, total urban population in the PRC increased from approximately 583