Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Haier Smart Home Sees Profit Drop as Revenue Grows
Trending in China: Can You Stop People Giving ‘Too Much’ Money to Their Favorite Live-Streamers?
Trending in China: Concerns Over Traditional Chinese Comedy ‘Selling Out’ In the Digital Age
ByteDance Doubles Down On Education
Chinese Biotech Firm Gracell Nets $100m From Wellington, OrbiMed, Others
Alibaba’s Hometown Could Become First in China to Issue Facial Recognition Ban
Battery and Hybrid Cars Will Dominate China’s Roads in 15 Years
Trending in China: Do The Sins Of The Father Fall On Their Sons? Social Media Lambast Pop Star with ‘Deadbeat’ Dad
Chinese Electronics Panel Maker CSOT Reports Profit Growth as Demand Soars
Xiaomi Invests in Home Improvement Firm Amid Push into Internet of Things
TikTok Escalates Patent Fight With Triller Amid Sale Talks
Chinese Self-Heating Hot Pot Brand Zihaiguo Nets Over $50m in Series C Round Led by CICC
Xiaomi Leads India’s Smartphone Market with 26.1% Share
Trending in China: Are China’s Blue-Collar Wages Really Higher Than Graduate Salaries?
Trending in China: An End to Spam Calls? Real Estate Company to Give Money to Anyone Who Receives One
Trending in China: Patriotic War Film Overpowers Foreign-Made Feature, But Not Everyone Is Impressed
Shopify Partners with TikTok to Drive Online Sales
Lawson Tests Next Step of Convenience Store Evolution in China
PUBG Creator Krafton Hires Bankers for Possible Record IPO
Mobile Browser Crackdown Ensnares Big Names
Chinese Gaming Giant NetEase to Raise More Pigs

By Bao Zhiming and Denise Jia / Sep 21, 2019 06:37 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese tech giant NetEase Inc. will build its third pig farm as the government vows to boost domestic pork production in response to the African swine fever disaster.

NetEase, an online gaming and e-commerce company, signed a cooperation agreement with the municipal government of Shaoxing, a city in eastern China’s Zhejiang province, to build a pig farm that will produce half a million hogs a year. The company didn’t disclose the investment amount.

NetEase founder and Chief Executive Ding Lei said the company’s biggest opportunity is to find a more suitable pig breeding solution that will industrialize the traditional industry.

Ding announced NetEase’s entry into pig farming in 2009. It built its first pig farm in 2012 in Anji of Zhejiang province and a second in the southeastern province of Jiangxi.

With the new pig farm, expected to complete all three phases of construction by 2024, the company’s annual hog production will expand to 670,000, four times its current volume.

Earlier this month, the Chinese government issued a series of measures to boost pork production, including increased subsidies to support the construction of large pig farms.

Since last summer, China’s pig farmers have been hit hard by a deadly pig disease for which there is no cure or vaccine. The number of pigs dropped by more than a third in July from the previous year, official data showed. Meanwhile, the average pork price surged 46.7% year-on-year in August, the fastest pace in more than eight years.

Contact reporter Denise Jia (huijuanjia@caixin.com)

Share this article
Open WeChat and scan the QR code