Cofco Group Chi Jingtao: Global Distribution Digest inflation

April 14 Afternoon news, Boao Forum for Asia 2011 Annual Meeting April 14 to 16th in China's Hainan province, Bo ' ao.　　Chi Jingtao, vice president of Cofco, said today, in a dialogue with Sina, that inflation hit, and that its employment companies have recently stepped up overseas acquisitions partly out of the need to reduce procurement costs and to control costs on a global layout. Following last year's takeover of the Chilean winery, Cofco's Cofco has bought a winery in the Bordeaux region of France for 100 million yuan this year.　　It is reported that Cofco wine industry will also be Italy, Australia, the United States, South Africa, a number of winery resources as the acquisition target. At the Boao Great Wall Wine Media Communication Conference in Bo ' Ao today, Chi Jingtao said to Sina finance that the Cofco wine industry has been spending money to buy wineries around the world since last year, with the aim of creating a "global Winery group".　　It is also due to the need to reduce procurement costs, the global scope of the cost of layout control. Chi Jingtao also said that, in addition to reducing costs through acquisitions, COFCO has also been strengthening its internal management this year, making fine production and reducing the cost of production and liquidity easing.　　In addition, the wine dealers have been integrated. "The price factor is not passed on to the consumer in the range that the enterprise can bear."　　"Chi Jingtao said. In addition, Cofco wine industry general manager Wu Fei to Sina Finance and Economics said, wine industry price pressure is not big. Because in the cost composition, the logistics cost and the labor expense occupy comparatively small, the most main cost composition is the wine itself. For the fierce situation of liquor prices, he believes that will not be replicated in the Chinese wine industry, because the wine pricing system and the mechanism and liquor, wine will continue to have personalized new products listed, value and price will increase in the original grape wine. (Jessie from Boao, Hainan)