Agreement addresses China's rising demand for meat and dairy products

Chinese consumers may be licking their lips at the prospect of more high-quality food being available on supermarket shelves following an unprecedented agreement signed by agriculture tycoons from China and Australia on Monday.

The agreement has been joined by about 50 enterprises from each country. It will boost investment in Australian agriculture, including livestock, to meet soaring Chinese demand for high-quality and safe lamb, mutton, beef and dairy products, Liu Yonghao, chairman of New Hope Group, a leading global agribusiness, said in Canberra.