China offers a sizable market for the dairy industry and the mapping of the industry's sustainability path would be crucial to its future development, said top executives and policymakers from the global dairy sector at a forum held during the ongoing China International Import Expo on Monday.

The 6th Global Dairy Forum, which was themed "Together for a Sustainable Future", saw professionals from across the industrial chain discuss the prospects of the dairy business in China and around the world, as well as hot-button issues, including the reduction of emissions and ways to improve nutrition.

Chinese Vice-Minister of Commerce Guo Tingting emphasized in her keynote speech the enormous potential in China's domestic market, pointing out that the current per capita dairy consumption in China is only half of the average of Asia's. She also believes that rising living standards will significantly boost the demand for high-quality and varied dairy products.

China's dairy imports increased at a compound annual growth rate of 7.6 percent between 2013 and 2022 to hit $13.89 billion last year, according to the report on China's dairy imports which was released during the forum. This rise, according to the report, illustrates the growing demand for dairy products in China and the enormous potential for Sino-foreign cooperation.

This view was echoed by industry insiders from allied trade partners, including the Agricultural Counselor of the Embassy of the Kingdom of the Netherlands Karel van Bommel and Counselor (SPS) and Jack Lee of the New Zealand Embassy, both of whom spoke about the opportunities and challenges related to the sustainable development of the dairy industry. They also emphasized the need for cooperative solutions that would better serve consumers in China and the world.

Lu Minfang, CEO of China's dairy giant Mengniu, then shared insights into how his company has been practicing ESG principles across its operations. Lu said Mengniu had maintained its standing in important ESG rankings like the Constituent Stock of the Hang Seng Corporate Sustainability Index for three consecutive years and received the AA rating from evaluators like the MSCI ESG Rating.

Lu then used case stories to illustrate how sustainable commitments are fulfilled. He described how a vast oasis and the world's first organic dairy ranch were established after 10 years of reforestation efforts in the desert of north China's Inner Mongolia autonomous region. Lu also pointed out that Mengniu has built the nation's first carbon-neutral dairy factory.

He also outlined the company's goal of reducing upstream ranch carbon emissions by 1 million tons by 2030.

A supporting activity of the 6th CIIE, the forum was hosted by the China Chamber of Commerce of I&E of Foodstuffs.

Zheng Zheng contributed to this story.