If Kao gets his way, the mainland operations will eventually equal or surpass the island results. There are many provinces we've never been to. Food is just the starting point. For now, President sells its total tin-can output within the group, but its mainland factories will allow it to take advantage of an expected boom in canned goods in China. As far as we know, no other canning factories are planned in China for three or four years.
Retailing is the next target.
President has a wholesale venture in Tianjin, but Kao wants to sell the group's food products in its own retail outlets. But current regulations require Chinese partners to own a majority stake in retail businesses and the central government must approve all applications. He says Beijing may soon allow local governments to license convenience stores, which may make it easier for foreign firms to establish a retail network. The President chief is also chafing at the ban on outsiders in banking and finance. Currently, only local banks are allowed to operate, and the services they offer are limited.