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Compared to wines and spirits, he said beer is still in the early stages of this trend. This presents an exciting opportunity to increase sales and revenue through the introduction of premium brands and also margins by enhancing product mix.

Compared with last year, the proportion of consumers planning to spend less during the next 12 months is higher in almost every product category, except beauty and cosmetics, on the Chinese mainland. More consumers will spend less on automobiles, watches, handbags and electronics.

Collaborating with Renault, the new energy automaker is expected to find technical and financial support quickly and easily.

Conglomerate manufacturer 3M opened its first design center in China on Tuesday, underscoring the importance of localization and proximity to customers to long-term business growth.

Colombia produced about 410,000 tons of pork last year, contributing to about 1.4 percent of the country's agricultural GDP, Colombian government data showed.