China’s New Protein sector hopeful to get its own Green Financing system

There has been much hype in recent months after Chinese President Xi Jinping made a specific mention of alternative protein in relation to food security and feeding the country’s population of 1.4 billion and growing.

This in itself is good news for local consumers knowing that solutions against food insecurity are being developed – but for the New Protein sector, this means so much more not just because of this recognition, but because of the new opportunities that have opened up from development , marketing and funding perspectives.

“Previously, there was a lot of talk about how protein security was becoming more important, but President Xi had not yet specifically mentioned plant-based or cultivated products, just that we should use ‘all resources’ to make new protein – so people were just not clear about what this ‘all resources’ meant, as well as how and what we were supposed to do,”​ China Plant Based Foods Alliance (CBPFA) Secretary General and Head of China’s AgFood Future movement Ryan Xue told FoodNavigator-Asia​.

“So for the past 2 years since food security first came up as an issue, everyone was confused and it was even tougher convincing others outside of the industry about New Protein because these were not specifically mentioned and no specific directives were given – in China, top-down directives are very important to get things going – so though progress was there, things were not as fast as they could be.

“This was especially obvious in terms of financing and investment – ​​so far a lot of progress that has been made has been with private funding, not public. So President Xi’s highlighting of the sector will mean a specific directive for the government to speed things up and the public sectors to make more investments in this area – which would be a huge gamechanger for the whole industry.”

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