French yeast company's China business continues rise

The China International Import Expo has become an important window for French company Lesaffre to penetrate the Chinese market and take root in China, said Jean-Philippe Poulin, president of Lesaffre Greater China.

Although the CIIE is only a few days long each year, the overflow benefits of the event continue. The first two editions of the CIIE have been very fruitful for Lesaffre Group, and the yeast manufacturer has received a large number of orders before, during and after it each year, he said.

Lesaffre managed to buy many utensils for yeast manufacturing thanks to the platform provided by the first CIIE, and signed two important contracts with the Mingguang city government of Anhui province and the Zhengbang Group of Jiangxi province at the second CIIE in 2019.

This year has been even more fruitful, as the company reached strategic cooperation agreements with four more enterprises at the third CIIE, according to Poulin, including Bestore Group and JD.com.

Apart from selling and buying products, CIIE has also provided precious opportunities for Lesaffre to showcase its brand in the Chinese market.

Through the platform of the CIIE, Lesaffre has strengthened two-way communication with Chinese enterprises and consumers, and many distributors, suppliers and users have gained a more comprehensive understanding of Lesaffre's brand, Poulin said.

In the midst of the global COVID-19 pandemic, China's holding of the third CIIE as scheduled is a very positive sign, showing the Chinese government has been able to stick to the path of openness and its determination to promote the common development of the world.

While the global economy has been stagnant this year, China has taken the lead in economic recovery and has quickly resumed steady growth, reflecting the strong resilience of the Chinese economy, he added.

Lesaffre has great confidence in the Chinese economy, Poulin said, and he foresees a growing demand for natural fermentation products in Asia. To meet the demands of Chinese customers, the company has also developed localized products in line with Chinese people's eating habits.

Having been working in China for five years, Poulin has witnessed the improvement of China's business environment and the great opportunities generated by a new round of consumption upgrading in China.

The Chinese government has introduced a series of policies to encourage openness, all of which are extremely intelligent. Pursing a better life, Chinese consumers have higher demands on the quality, flavor and nutrition of food, which provides greater possibilities for Lesaffre to expand its market in China, Poulin said.

As a foreign-funded enterprise that has been deeply involved in China for more than 30 years, the epidemic crisis cannot stop Lesaffre's confidence in China's development.

Lesaffre Group has announced a majority equity acquisition of Inner Mongolia Biohymn Biotechnology as a key step for Lesaffre Group to implement its expansion strategy in China.

In the future, the company will continue R&D and innovation efforts in the Chinese market to provide bakery solutions to solve technical problems in the industry, letting more people enjoy high-quality baking products, and further enlarging the CIIE spillover effect, Poulin said.