HONG KONG— Yashili Group Co., a Chinese infant-formula maker in which  
U.S. investment firm Carlyle Group owns a stake, is preparing for an  
initial public offering later this year, a person familiar with the  
matter said, showing a dramatic change in confidence from just a  
couple of years ago when it was caught up in a food-safety  
scandal. . . .
The factors driving growth in the industry are the growing affluence  
of the Chinese and a declining breast-feeding rate.

In 1998, 76% of mothers exclusively breast-fed children, according to  
Unicef, but that dropped to about 50% by 2008 as they sought to  
supplement their babies' diet.

The Chinese infant-formula market is the world's second-largest,  
surpassing Japan, and is expected to overtake the U.S. shortly,  
according to a report by Oppenheimer. The market is expected to grow  
at a double-digit rate in the next five to 10 years, the report added.



http://online.wsj.com/article/SB10001424052748704657504575411273377083944.html
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